After the US CPI data came in below expectations, there was a festive mood in the crypto market. The leading crypto Bitcoin (BTC) has come to the doorstep of $ 18 thousand. Leading altcoin Ethereum (ETH) has surpassed $1,300. In this environment, a popular crypto analyst suggests that Ethereum will overtake Bitcoin in 2023. Also, the analyst expects the two altcoins to outperform BTC.
“Ethereum will outperform Bitcoin”
Anticipating Bitcoin (BTC) 2018 bottom, crypto analyst nicknamed Smart Contracter predicts that Ethereum (ETH) will launch epic rallies next year on its lead. For the analyst’s successful forecasts cryptocoin.comCheck out this article. The analyst says that he expects the ETH/BTC pair to skyrocket to an unprecedented level for about 5 years. According to the analyst, a rising ETH/BTC chart indicates that Ethereum will likely gain more than Bitcoin. In this context, Smart Contracter makes the following statement:
If the ETH/BTC pair reaches 0.062 BTC in the first quarter of 2023, it will be a big buy. This is one of the trades I’m looking forward to next year. It will definitely take a few months though.
The analyst arrives at this conclusion using the Elliott Wave theory. The theory is based on a technical analysis approach that tries to predict future price action by following crowd psychology, which tends to manifest in waves. According to its chart, Smart Contracter predicts ETH/BTC to rise above 0.09 BTC ($1,544) by March 2023. It should be noted that this price level was last seen in January 2018.
“Leading altcoin is on its way to becoming a leading crypto!”
The analyst also claims that the leading altcoin Ethereum will flip Bitcoin in the next bull market. According to Smart Contracter, Ethereum will be the leading crypto by market cap. He expresses his views on this matter as follows:
ETH is still in a multi-year uptrend. I definitely want to be involved to see it flip BTC in the next cycle.
Meanwhile, the analyst predicts that Ethereum will break the resistance around $1,300 in the short term. At press time, Ethereum is trading at $1,319, up 4.05% on a daily basis. Hence, in today’s crypto rally, Ethereum broke the resistance that the analyst was talking about.
“Litecoin is in a bullish trend in USD and BTC pairs”
Smart Contracter also closely monitors the peer-to-peer payment network Litecoin (LTC). The analyst says that Litecoin is currently trading in an uptrend in both USD and BTC pairs. Accordingly, the analyst makes the following statement:
Like BTC and ETH, I went back to LTC on the rollback of this structure. The LTC/BTC pair also appears to have planted a bullish flag in an uptrend on the four-hour chart. So I think it will outperform BTC in the next uptrend.
At press time, the altcoin is trading at $77.67, up 2.41% on a daily basis.
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