‘ETH has surpassed BTC by 250%,’ and Raul Pall sparked controversy.
Real Vision’s Raul Pall believes that altcoins, which have an active development and app ecosystem, are more likely to outrun Bitcoin as time goes by.
According to Cointelegraph, a media specializing in cryptocurrency on the 9th (local time), Raul Pal, CEO, co-founder of Real Vision, a global macro investor, said that altcoins such as Ethereum (ETH) with’network effect’ He predicted that it will be more and more ahead of Bitcoin (BTC).
Pall shared ETH’s price versus BTC chart from August 7, 2015, six years after the creation of Bitcoin, showing that “ETH surpassed BTC by 250%.”
According to TradingView’s Bittrex Exchange chart, ETH began trading at around 0.006 BTC on August 10, 2015. It is currently located at 0.0359 BTC.
“The ETH has fallen 77% since the bull market in 2017, and it is also declining in the long run,” said Craig Wright, chief scientist at Bitcoin mining company Enchain, saying that Bitcoin users are not pleased with the interpretation of the arm. .
In response, Arm responded, “It has risen more than 100% since the start of the half-slice cycle.”
Fund strategist and Bitcoin advocate Brad Mills questioned the comparison itself, arguing that the logic behind this analysis was flawed, as it does not provide a comparison between currencies from the beginning of each.
On-chain analyst Willie Wu argues that ETH’s price rise is simply an early hype cycle, and ETH has little potential for future price increases. “The climber with ETH’s four-year cycle is the highest,” he explained. “There is a high possibility that ETH will fluctuate around bitcoin prices in the future, and now is the time to get out of bitcoin prices.
“We have a very well-developed derivatives market this year, so it would be a good idea to use BTC now.”
Meanwhile, there is more to this debate about ETH’s rise against BTC, beyond just pride. In November of last year, podcaster Peter McCormack took an arm and bet, taking the position that BTC will face ETH a year later.
Pal took the opposite position and said that ETH would approach the price of bitcoin in a year, but losers have to buy liquor from the winners in London or the Cayman Islands.