Real Vision CEO Raoul Pal says Ethereum’s (ETH) technicals and fundamentals suggest the second-largest cryptocurrency may massively outperform Bitcoin (BTC) in the coming cycle.
In a new interview on the crypto-focused YouTube channel Altcoin Daily, Pal says he has his eye on the chart of Ethereum against Bitcoin (ETH/BTC).
According to the macro guru, the ETH/BTC pair is coiling inside a wedge, and a breakout could send ETH into a rally that leaves Bitcoin in the back seat.
Says Pal,
“There’s the chart of Ethereum versus Bitcoin. That’s one hell of a wedge.
If that plays out, then we should see ETH doing 1x, 2x, 3x, 4x [or] 5x Bitcoin in the next run. And ETH probably won’t be the best performing crypto either.”
According to Pal, the ETH/BTC pair must take out resistance at around 0.077 BTC ($2,115) to confirm the breakout. At time of writing, ETH/BTC is trading for 0.0639 BTC ($1,755).
As for Ethereum’s fundamentals, the Real Vision executive believes that the leading smart contract platform’s total addressable market is much larger than Bitcoin’s.
“Ethereum is a broader basis architectural protocol of which we can build more stuff on top of. Bitcoin just doesn’t do that. It has a different use case. So it’s unlikely to be as big.
Is the internet worth more than gold? Yes, simple as that, and that’s basically the argument here.”
At time of writing, Ethereum worth $1,758.
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/TadashiArt
Credit: Source link
