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Top Crypto Analyst Notes A Bull Run For Ethereum Despite Despite the Crash

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…>>

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.