Ethereum Predicted to Outshine Bitcoin in Current Cycle
Jiang Zhuoer, founder of Chinese mining pool BTC.TOP, has shifted his stance on the crypto market. He now believes that Ethereum will outperform Bitcoin this cycle and plans to move his remaining capital into ETH.
In a recent tweet, Jiang explained how he previously sold his ETH holdings between $1,738 and $1,931 and opened short positions to hedge against further downside. However, when Ethereum surged past $2,000 and continued climbing, those shorts lost money.
Jiang closed the positions and repurchased ETH near $2,100, later selling roughly half his spot holdings near $2,525 while attempting to catch a short-term top with a tight stop-loss.
The founder is now roughly 90% confident that the crypto bear market has ended, calling his earlier bearish call far off the mark. He plans to allocate all remaining funds to Ethereum if Bitcoin retraces to the $67,000- $72,000 range.