“ETH has outperformed BTC by 250%” since its launch, Raoul Pal
09 Apr 2021
Ethereum and other coins with so-called “network effects” will outperform Bitcoin in time, according to Raoul Pal, the co-founder of Real Vision.
Pal referred to a chart of Ethereum’s price in relation to Bitcoin since 7 August 2015 – six years after the creation of Bitcoin - revealing that “ETH has outperformed BTC by 250%.”
Ethereum started to trade for around 0.0006 Bitcoin on 10 August 2015, according to TradingView’s Bittrex chart, and at the time of writing is sitting at 0.0359 BTC.
However, not all cryptocurrency analysts are in agreement with Pal. According to Arthur van Pelt, Ethereum has outlived its initial hype and since the bull run of 2017 is “down 77% and on a long-term decline. Cold hard facts.”
Pal said in response: “Since this halving cycle started, it’s up over 100%. Cold hard facts.”
In addition, according to Bitcoin supporter, Brad Mills, the logic underscoring the analysis is flawed as there is no comparison between the two cryptocurrencies since they both launched, says a Cointelegraph report.
According to on-chain analyst Willy Woo, Ethereum’s price hike was just down to the initial hype and the cryptocurrency has little possibility for future price hikes.
Woo went on to say that the first four-year cycle of any coin “is its highest climber,” adding that Ethereum will probably move around Bitcoin’s price from now on: “You may as well just leverage BTC now that we are in 2021 with well developed extremely liquid derivative markets."
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