According to Data on TradingView, the ETH/BTC pair is at three-year high region. But, analyst predicts that Ethereum could further dwarf BTC this season with a powerful vertical move.
Furthermore, In a December 3 tweet, GalaxyBTC a popular cryptocurrency analyst notes,
“I’ve been waiting and publicly charting ETH/BTC on the big picture for years,…”
“and now we are finally here. $ETH is about to start going into parabolic mode…”
“Just wait and see how crazy things are about to get.”
More so, there’s still no factor to hold unto what will ignite the Ethereum recent surge. However, the effect of the recently implemented EIP-1559 feature which burns ETH gas fees is a good factor.
Also, as per ETH fee burn tracker, WatchtheBurn, a total of 1,098,786 ETH is burn since the coming of EIP1559. Which of course, amounts to a massive $4,837,712,550.
Additionally, the analysts notes that ETH/BTC touches 0.0085 this week. Which of course, its highest point since May 2021, when the digital asset records a huge spike.
Notably, Despite the analysts’ bullish Ethereum predictions, some members of crypto Twitter is showing doubts over the possibility of ETH outperforming bitcoin this year.
“For EH/BTC o get to 0.2, ETH has to brutally outperform BTC…”
“If BTC reaches $100k (+80 percent), then ETH has to quadruple in price to $20k,…”
“to reach the 0.2 level. I can totally see that happening next year with the Eth2.0 delivery,”
Lastly, according to a tweet by @rudxkru.
Galaxy Interactive Rises Additional $325M Fund For Metaverse and Next Gen…>>
Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.