ETH Ready to Surpass BTC, Reaching New Heights in Coming Months
CryptoNewsTerminal Staff21 May, 2024
ETH Ready to Surpass BTC, Reaching New Heights in Coming Months
Ethereum (ETH) is poised to outpace Bitcoin (BTC) in the coming months, according to Bloomberg Intelligence crypto market analyst Jamie Coutts. The ETH/BTC price will be the most important psychological driver this cycle. In December of last year, ETH/BTC reached extreme oversold levels and has recently formed a bullish divergence on the Z-score as speculation mounts over the possibility of a spot ETH ETF. Historically, ETH has started to outperform altcoins during bull markets around three months after a BTC halving. However, other analysts see more upside in other altcoins such as Solana (SOL) and NEAR Protocol (NEAR), which have strong fundamentals and are still relatively small in market cap compared to ETH.
