Litecoin is poised to outperform Ethereum over the course of the next month, says famous trader Nicholas Merten.
In a new DataDash video, Merten notes that LTC seems to be bottoming out against ETH.
The trader revealed that he allocated a lot of his portfolio into the Bitcoin fork because he believes it may rise significantly in its ETH pair.
“At this range here, Litecoin historically did a 5x against Ethereum… That’s massive. And these are the types of ratios you guys should be looking for because this is how you actually return multiples upon multiples of what the market is generally getting,” he said as cited by the Daily Hodl.
He continued and explained that “This is the ultimate alpha here, if you really want to put it that way. There are not many greater opportunities than being able to find these kinds of large-cap plays that are already well established, that still have a chance to do crazy multiples against another play like Ethereum that’s already doing phenomenally well and leading most cryptocurrencies.”
Though Merten does not provide a LTC price prediction, one chart Merten shares shows Litecoin surging towards $2,000 in the near future, as reported by the online publication the Daily Hodl.
Check out the video above in order to learn more about the price of LTC through Merten’s eyes.
At the moment of writing this article, LTC is priced at $225.60 and the digital asset is trading in the red.
Bullish crypto predictions
Other than this, there are all kinds of predictions about the price of Bitcoin these days and most of them are quite bullish.
There have been a lot of bullish Bitcoin predictions these days, and they seem to continue. The latest one comes from the famous PlanB.
He believes that we have not seen the top of this bull market yet.
ICYMI: of course bitcoin is volatile and can easily go up or down 20% in short time intervals. But we are nowhere near the top of this bull market, according to both the S2FX model and on-chain signals. pic.twitter.com/Mk4fSVCfGB
— PlanB (@100trillionUSD) April 8, 2021
Stay tuned for more news.