Analyst: Ethereum ‘Guaranteed’ to Surge 180% Against Bitcoin

If we are to believe popular analyst Altcoin Sherpa, Ethereum is going to perform fantastically against Bitcoin in the coming period. According to the analyst, it is “guaranteed” that Ethereum will rise by 180% against Bitcoin.

Ethereum price record before the end of 2024

“Ethereum at an all-time high before the end of the year is almost guaranteed,” is the bold statement from Altcoin Sherpa. By this he does not mean an all-time high of Ethereum in US dollars, but against Bitcoin.

Where exactly this increase will come from is not entirely clear. Until now, Ethereum has yet to prove itself, while it is clear to most people that Bitcoin functions as a kind of digital form of gold.

Ethereum has yet to find its long-term use case, and it’s questionable whether it even exists at this point. Decentralized finance applications have been particularly popular in 2021, but they’ve been used primarily to speculate on altcoins.

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For example, by borrowing money in DeFi applications and then using that to bet on altcoins. There are still few to no real valuable applications for Ethereum.

Bearish in the short term

As for Bitcoin, Altcoin Sherpa is mostly bearish in the short term. At the time of his analysis, the Bitcoin price was still at $60,000 and he spoke about the range between $73,000 and $56,000 that was still intact.

We have now dropped to $53,500 and Bitcoin has not been doing so well for a while. We saw a brief bounce to the $55,200 level, but it is still questionable whether we have reached the bottom here.

The market now seems to be focusing more on stocks, which are doing great thanks to the hype around artificial intelligence. However, we should not forget that Bitcoin had a great start to the year.

Since the beginning of the year, Bitcoin is still more than 20% in the plus. This does not mean that the digital currency has had a dramatic year. Although something has to change in the price trend now.

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