ARK Invest’sformer head of crypto division Chris BurniskeEthereum’s price action against Bitcoin shared his views.
of BurniskeIn his opinion, after two years of consolidation, Ethereum is the leading cryptocurrency. to bitcoinready to counterattack. Ethereumlast in May 2021 such a price jump. Then in a little over a month ETH, BTCagainst from 150 percentovervalued and It remained in consolidation for 931 days.
Can Ethereum Overthrow Bitcoin?
If the boom Burniske speaks of does materialise, it can be assumed that it will be smaller than last time, given that the current consolidation took about a third of the previous one and thus the amount of energy accumulated is also lower.
It is also a matter of curiosity whether Ethereum will renew its all-time high against Bitcoin in case of potential liquidity flow. Currently, this sign ETHper as 0.1564 BTCdetermined, and this It is 123 percent higher than the current price of Ethereum.
Finally, a potential price breakout “flipping” It can answer the question of how close it is. Since the market’s emergence, Ethereum has been rumored to replace Bitcoin as the largest cryptocurrency, but currently ETH is still only 43 percent of BTC in terms of capitalization.
