Crypto
Jiang Zhuoer Bets Big on Ethereum as Market Outlook Shifts
Jiang Zhuoer, founder of Chinese mining pool BTC.TOP and a prominent figure in the crypto space, has made an interesting shift in his market outlook. He previously took a strongly bearish stance on the market but now believes the bear market has ended.
Zhuoer plans to move his remaining capital into Ethereum (ETH), betting that it will outperform Bitcoin (BTC) this cycle. This change of heart comes after his previous bearish call was far off the mark, with Zhuoer saying he is now about 90% confident in his new outlook.
His plan is conditional: if BTC retraces to the $67,000-$72,000 range, he will allocate all remaining funds to ETH. If that doesn't happen, he intends to buy ETH at market prices no later than the end of October.