According to macro guru Raoul Pal, Ethereum could exponentially outperform Bitcoin in the coming cycle
Real Vision CEO Raoul Pal says that Ethereum (ETH) technicals and fundamentals indicate that the second-biggest cryptocurrency could massively outperform Bitcoin (BTC) in the upcoming cycle.
In a new interview on crypto-focused YouTube channel Altcoin Daily, Pal says he’s eyeing Ethereum’s chart against Bitcoin (ETH/BTC).
According to the macro guru, the ETH/BTC pair is snaking in a wedge, and a breakout could send ETH into a rally that leaves Bitcoin in the backseat.
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“There is the chart of Ethereum versus Bitcoin. That’s one hell of a wedge.
If this works 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.”
Source: Raoul Pal/Twitter
According to Pal, the ETH/BTC pair needs to clear resistance around 0.077 BTC ($2,115) to confirm the breakout. At the time of writing, ETH/BTC is trading at 0.0639 BTC ($1,755).
As for Ethereum’s fundamentals, the Real Vision executive believes that the total addressable market of the leading smart contract platform is much larger than that of Bitcoin.
“Ethereum is a broader architectural protocol that we can build more things on top of. Bitcoin just doesn’t do that. It has a different use case. So it shouldn’t be that big.
Is the internet worth more than gold? Yes, it is as simple as that, and that is basically the argument here.”
At the time of writing, Ethereum was worth $1,758.
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