Top Analyst Says ETH Could Outperform Bitcoin This Cycle

A top analyst says that ETH could soon outperform Bitcoin this cycle despite it underperformed it for the past two weeks. BTC shot around 20% higher in the past 10 days alone and ETH gained about 8% so let’s read more in today’s ethereum news.

The trend is not isolated however as almost all leading altcoins are underperforming bitcoin. the severity of the spike to the upside only compressed gains in the altcoins as all focus on the capital is focused on Bitcoin right now. while some believe that this will be a fixture of the cycle, a prominent crypto-asset analyst made the case for why ETH could outperform Bitcoin this cycle, according to a top analyst.

While some believe that this will be a fixture of the cycle, the top analyst says that the case for why ETH could outperform bitcoin this cycle is the credence of the sentiment. Qiao Wang, explained more:

 “The pro-BTC argument goes: it took years for institutions to finally get on board with the “digital gold” narrative. There’s no way they’ll get comfortable with ETH in this cycle. What this argument misses is that there’s also a significant % of the population who don’t get the “digital gold” narrative, but are more comfortable with the “tech platform” narrative that ETH represents.”

There's a lot of ETH bearishness recently. I'm also of the view that ETH will underperform BTC in the next bull cycle. But only slightly. And I want to explore arguments for why this thesis may be wrong, ie, why ETH could outperform BTC.

— Qiao Wang (@QwQiao) October 27, 2020

He elaborated that from the standpoint of technology investors, Ethereum remains the best index beet in the crypto space. On the other hand, Bitcoin could be seen as a myopic bet on the digital store of value. Wang noted that he remains more bullish on Bitcoin. He is assigning a higher probability to the scenario where BTC outperforms ETH this cycle than the other way around. While ETH has the huge potential to underperform Bitcoin which is not to say that it will drop against the dollar. There is a lot going for Ethereum in the upcoming months and years.

It’s slowly becoming an institutional asset with the institutional investors starting to dip their toes in the space. Head of DTC capital Spencer Noon noted that institutions are talking about DeFi and started to allocate ETH wherever they can. This comes as institutional service providers like Fidelity Investments are expected to bolster their involvement in Ethereum.

The US CFTC Chairman Heath Tarbert also said he is impressed with the innovation taking place in the ecosystem. He added that if BTC could be linked to the technology of email, ethereum will become like the internet.