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Macro Analyst: Ethereum Looks Like It Will Outperform Bitcoin in the Future

Macro Analyst: Ethereum Looks Like It Will Outperform Bitcoin in the Future
From the all-time high of $1,400, Ethereum is down by approximately 80%.
Due to a collapse in the ICO bubble and the narrative shifting from altcoins to BTC, the -80% performance ETH has registered is much worse than that of Bitcoin. From its all-time high of $20,000, BTC is down less than 50%.
While there are many believing the leading cryptocurrency will continue to outperform altcoins, a prominent investor is throwing his weight behind Ethereum.
Related Reading: This Crypto Use Case Has Never Been as “Underrated” Due to Twitter and Trump
Ethereum Poised to Outperform Bitcoin?
Bitcoin’s performance may be impressive, but even more impressive is that of Ethereum.
The second-largest digital asset is up more than 22% in the past week alone, according to data from Coin360.com. Over that same time period, BTC is up “only” 14.45%.
Real Vision chief executive Raoul Pal, who commented on the chart of ETH/BTC after the recent breakout, said in reference to the chart below:


“It even looks like Ether will outperform Bitcoin at some point (no position yet). Please remember: No tribal attacks about bitcoin vs ethereum. They are two different things and two different ecosystems.”









ETH/BTC chart from prominent Wall Street investor and analyst Raoul Pal (@RaoulGMI on Twitter).
The chart shows Ethereum breaking out of a crucial resistance against Bitcoin that formed after the February highs.
Pal’s optimism about Ethereum’s prospects, especially against Bitcoin, has been echoed by a limited set of other market participants.
Per Mohit Sorout — partner at crypto hedge fund Bitazu Capital — it is “quite possible that ETH has printed a major cycle low [against Bitcoin],” pointing to the chart seen below. He claimed in late April that the chart shows a bullish “weekly market structure.”
As to why exactly the chart signals that upside is likely, he pointed to two factors:

ETH/BTC has begun to print consecutive higher lows and higher highs, indicative of a reversal
And the directional movement index (DMI) indicator has recently crossed bullish.


Quite possible that $ETH/ $BTC has printed a major cycle low.
Weekly market structure is bullish
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