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.”
