{"id":425866,"date":"2020-06-02T01:51:45","date_gmt":"2020-06-02T01:51:45","guid":{"rendered":"https:\/\/wncen.com\/?p=425866"},"modified":"2024-06-11T14:03:28","modified_gmt":"2024-06-11T14:03:28","slug":"macro-analyst-ethereum-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/macro-analyst-ethereum-bitcoin\/","title":{"rendered":"Macro Analyst: Ethereum Looks Like It Will Outperform Bitcoin in the Future"},"content":{"rendered":"

From the all-time high of $1,400, Ethereum is down by approximately 80%.<\/p>\n

Due to a collapse in the ICO bubble and the narrative shifting from altcoins to BTC, the -80% performance ETH has registered is much worse than that of Bitcoin. From its all-time high of $20,000, BTC is down less than 50%.<\/p>\n

While there are many believing the leading cryptocurrency will continue to outperform altcoins, a prominent investor is throwing his weight behind Ethereum.<\/p>\n

Related Reading: This Crypto Use Case Has Never Been as \u201cUnderrated\u201d Due to Twitter and Trump<\/a><\/h6>\n

Ethereum Poised to Outperform Bitcoin?<\/h2>\n

Bitcoin’s performance may be impressive, but even more impressive is that of Ethereum.<\/p>\n

The second-largest digital asset is up more than 22% in the past week alone, according to data from Coin360.com. Over that same time period, BTC is up “only” 14.45%.<\/p>\n

Real Vision chief executive Raoul Pal<\/a>, who commented on the chart of ETH\/BTC after the recent breakout, said<\/a> in reference to the chart below:<\/p>\n

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“It even looks like Ether will outperform Bitcoin at some point (no position yet). Please remember: No tribal attacks about bitcoin vs ethereum. They are two different things and two different ecosystems.”<\/span><\/div>\n<\/blockquote>\n<\/div>\n
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\"ETH\/BTC\"
ETH\/BTC chart from prominent Wall Street investor and analyst Raoul Pal (@RaoulGMI on Twitter).<\/figcaption><\/figure>\n

The chart shows Ethereum breaking out of a crucial resistance against Bitcoin that formed after the February highs.<\/p>\n

Pal’s optimism about Ethereum’s prospects, especially against Bitcoin, has been echoed by a limited set of other market participants.<\/p>\n

Per Mohit Sorout<\/a> \u2014 partner at crypto hedge fund Bitazu Capital \u2014 it is \u201cquite possible that ETH has printed a major cycle low [against Bitcoin],\u201d pointing to the chart seen below. He claimed in late April that the chart shows a bullish \u201cweekly market structure.\u201d<\/p>\n

As to why exactly the chart signals that upside is likely, he pointed to two factors:<\/p>\n

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  • ETH\/BTC has begun to print consecutive higher lows and higher highs, indicative of a reversal<\/li>\n
  • And the directional movement index (DMI) indicator has recently crossed bullish.<\/li>\n<\/ul>\n
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    Quite possible that $ETH<\/a>\/ $BTC<\/a> has printed a major cycle low.<\/p>\n

    Weekly market structure is bullish\ud83d\udc40 pic.twitter.com\/0lYYK1V7zP<\/a><\/p>\n

    — MS\ud83d\udcc8 (@singhsoro) April 25, 2020<\/a><\/p><\/blockquote>\n