Time To Start Turning Bullish on Ethereum Against Bitcoin, According to Crypto Analyst – Here’s His Outlook

A broadly adopted cryptocurrency analyst and dealer is leaning bullishly on Ethereum (ETH) in opposition to his Bitcoin (BTC) pair.

The analyst, pseudonymously generally known as Credible Crypto tells his 459,100 followers on the social media platform

The broadly adopted analyst says that based mostly on technical evaluation, Ethereum may rise at the very least 378% in opposition to Bitcoin from present ranges to achieve a brand new all-time excessive.

“Based mostly on the technical information I shared on the ETH/BTC chart, I imagine it’s not solely doable, however seemingly that we’ll see a brand new all-time excessive on ETH/BTC, which implies we’re seemingly may even see an ETH flip BTC. the top of the cycle.”

ETH is buying and selling at 0.03164 BTC ($3,231) on the time of writing, down roughly 79% from its all-time excessive of roughly 0.1515 BTC reached in June 2017.

On the prospects of Ethereum’s market cap rising larger than Bitcoin’s, the pseudonymous analyst says:

“It sounds loopy, however at its peak in 2017, ETH reached a market cap of $37 billion, whereas BTC was $43 billion, which means we have been very near flipping BTC at the moment as nicely.

I believe we are going to really do it this time.”

Bitcoin’s market capitalization is roughly $2.03 trillion, whereas Ethereum’s is $390 billion.

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