Analyst “Guy” at the million-subscribed crypto channel Coin Burea sees Ethereum (ETH) overtaking or overtaking Bitcoin (BTC) as the largest cryptocurrency, something that could possibly happen this year. Analyst’s recent YouTube post cryptocoin.com compiled for our readers.
Analyst looks at possibilities for coming months
In a new video, Guy explains two factors that could decide whether the ranking will change in the coming months:
As for when we might see ETH surpass BTC, it’s possible that sooner or later that will happen. It really depends on the two factors I mentioned earlier. Namely: approval of a spot Bitcoin ETF (exchange-traded fund) and Ethereum switching from PoW to PoS…
The analyst considers all possibilities as to when this might happen:
These two events could well happen in the same month. Few pending points Bitcoin ETF application can be approved by March and Ethereum consolidation doesn’t look far behind. If a spot Bitcoin ETF is approved, it will be impossible for ETH to catch up with BTC even if the merger is a huge success. If the consolidation happens before a spot Bitcoin ETF is approved, it may be enough for Ethereum to convert Bitcoin, at least temporarily. The only caveat here is that we may enter a bear market once the Fed starts raising interest rates… If the bear market continues in full swing when the merger comes, it probably won’t be enough for Ethereum to surpass Bitcoin. Because the market momentum won’t be there. Conversely, it’s hard to imagine a bear market where a spot Bitcoin ETF has been approved, which logically means that ETH is unlikely to replace BTC in the short term.
“Bitcoin and Ethereum are fundamentally different”
The analyst also weighs in on the idea of Ethereum replacing Bitcoin as the number one cryptocurrency:
BTC is digital gold and ETH is digital oil. If the market value of crude oil exceeded the market value of physical gold or vice versa, it wouldn’t matter for either currency, so why would it matter if the oil and gold in question were digital? From where I stand, both cryptocurrencies face unique challenges to grow, but both will ultimately prevail in their respective niches.
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