Close
A former Goldman Sachs executive says Ethereum will overtake Bitcoin as we head into the crypto spring. In this post, we will follow Raul Paul’s talk about “Pooyan Music“.
Top smart contracts platform Ethereum (ETH) is set to overtake Bitcoin (BTC), says Raul Paul. While digital currency markets are entering a new phase of “Spring”.
The former Goldman Sachs executive tells his 1 million followers on social media platform X that ETH is setting up to outperform BTC based on Tom Demark’s sequential indicator.
The purpose of the demark sequence is to identify the points of trend exhaustion or price reversal.
This is the weekly DeMark 9 number for the ETH/BTC cross section. ETH is likely to outperform from here on out, as usual at this point in late crypto spring.
Paul continues that Ethereum-based exchange-traded funds (ETFs) will be the “holy grail” of asset managers, at least until some form of competition emerges.
ETFatrium is the holy grail for asset managers. Because they can capture returns and only provide price performance to ETF holders. “It’s an incredibly profitable business until it finally competes.”
However, one prominent cryptocurrency analyst has a position that contradicts Paul’s assessment of Ethereum outperforming Bitcoin.
Recently, cryptocurrency strategist Benjamin Cowen issued a warning saying that Bitcoin dominance, which tracks the percentage of the total market capitalization owned by Bitcoin, will remain bullish. This means that altcoins, including ETH, will be left behind.
“My crypto portfolio has been mostly just Bitcoin for the past few years. Because I think it will perform better than the rest of the market. That is why this mastery. It has gone up.”
At the time of writing, Ethereum is trading at $2,080.
