Bitcoin's Looming 'Halving' Sparks Crypto Price Surge Bets

Bitcoin's upcoming "halving" event in April is expected to cause its price to surge higher, so many investors are buying Bitcoin in anticipation.

Cryptocurrencies like Ethereum, Avalanche, Cardano, and Chainlink are highly correlated with Bitcoin's price and may also benefit from Bitcoin's halving event.

Ethereum and Bitcoin have historically had a very high price correlation, though this declined somewhat after Ethereum's Merge upgrade. The correlation now stands at 0.89.

Avalanche, Cardano, and Chainlink are all trading 50% or more below their all-time high prices, making them potentially undervalued.

Avalanche in particular stands out as a top altcoin pick due to its high Bitcoin correlation, trading volume growth, and recent tech upgrade.