Ethereum has strongly underperformed Bitcoin over the past two weeks. As BTC has shot around 20% higher in the past 10 days alone, ETH has gained approximately 8%.
This trend is not isolated: almost all leading altcoins are underperforming Bitcoin. The severity of BTC’s spike to the upside has compressed gains in altcoins as all focus and capital is focused on Bitcoin.
While some think this will be a fixture of this cycle, a prominent crypto-asset analyst recently made the case for why Ethereum may outperform Bitcoin all this cycle.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom
How Ethereum Could Underperform BTC This Cycle
Qiao Wang, a prominent crypto-asset analyst, recently explained why there may be some credence to the sentiment that Ethereum will outperform Bitcoin this cycle:
“The pro-BTC argument goes: it took years for institutions to finally get onboard with the “digital gold” narrative. There’s no way they’ll get comfortable with ETH in this cycle. What this argument misses is that there’s also a significant % of the population who don’t get the “digital gold” narrative, but are more comfortable with the “tech platform” narrative that ETH represents.”
There’s a lot of ETH bearishness recently. I’m also of the view that ETH will underperform BTC in the next bull cycle. But only slightly. And I want to explore arguments for why this thesis may be wrong, ie, why ETH could outperform BTC.
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