Pal: “ETH Could Experience a Rally to Overtake BTC”

According to Raoul Pal, Ethereum (ETH) could exponentially surpass Bitcoin (BTC) in the next cycle. Real Vision CEO Raoul Pal says that the technical and fundamental characteristics of Ethereum (ETH) show that ETH could vastly outperform BTC in the coming cycle. In a new interview with crypto-focused YouTube channel Altcoin Daily, Pal says he has his eye on the Ethereum chart versus Bitcoin (ETH/BTC).

According to Pal, the ETH/BTC pair is spiraling in a wedge and a breakout could send ETH to a rally that leaves Bitcoin in a backseat. Pal uses the following words in his statements on the subject:

“Ethereum has a chart against Bitcoin. This is an awesome wedge. If that happens, we should see ETH do 1x, 2x, 3x, 4x (or) 5x Bitcoin the next time around. Also, Ethereum (ETH) probably won’t be the best performing cryptocurrency.”

According to Pal, the ETH/BTC pair needs to show resistance around 0.077 BTC ($2.115) to confirm the breakout.

As for the fundamentals of Ethereum, Pal believes that the leading smart contract platform’s total addressable market is much larger than that of Bitcoin:

“Ethereum is a broader-based architectural protocol on which we can build more. Bitcoin can’t do that. It has a different use. So it’s unlikely to be that big.”

Pal puts it this way: “Is the internet more valuable than gold? Yes, it’s that simple, and that’s basically the argument here.”