Analyst Jason Pizzino predicts that altcoins will surpass Bitcoin in 2024 amid anticipation of major events.

Renowned cryptocurrency analyst Jason Pizzino shared his insight that altcoins could take center stage next year and potentially surpass Bitcoin (BTC). Pizzino points to two key catalysts that could lead to significant market moves: Bitcoin halving and the upcoming US presidential election.

Upcoming Bitcoin Halving

In a recent YouTube video, Pizzino highlights the potential impact of the Bitcoin halving scheduled for April 18th. He suggests this incident could act as a pause button for the ongoing market correction.

However, he places greater emphasis on the US presidential election as a potential game-changer for the cryptocurrency industry.

Based on historical patterns, Pizzino points out that previous elections have sparked significant market rallies either a month or two before the event or during the election period. He advised investors to remain vigilant as the cryptocurrency market enters the third quarter of 2024.

Bitcoin’s Short-Term Correction

Pizzino anticipates a short-term correction in Bitcoin, which could see it fall to around $37,000, but remains optimistic about its overall trajectory. Bitcoin is currently trading at $38,603, with a daily drawdown of less than 5.91% and a weekly drawdown of over 9.4%.

Looking ahead, Pizzino expects Bitcoin and Ethereum (ETH) to gain momentum this year. But he went a step further and predicted that altcoins will outperform the top two cryptocurrencies later in the bull market cycle.

As the cryptocurrency community eagerly awaits these anticipated events, the coming months promise to be dynamic and potentially transformative for the entire digital asset landscape.