Ethereum will outperform Bitcoin in the future says Trading Legend
Veteran trader Peter Brandt has predicted that Ethereum will significantly outperform leading coin Bitcoin in the near future. Brandt revealed this in a tweet in which he suggested that the leading altcoin alongside other altcoins will gain on Bitcoin.
Brandt posted a chart of Ethereum alongside Bitcoin which showed the immense growth that the altcoin has made since the beginning of the year.
Apart from steep dips in March and May, Ethereum has largely fared well when compared with Bitcoin.
Altcoin season offers more room for growth
Altcoin season has well and truly arrived with several altcoins enjoying record highs in recent days. Chainlink is one of these coins and is connected with the DeFi market which is largely dominated by Ethereum based products.
This has also been passed to Ethereum with its token Ether valued at 0.0262 BTC which is it’s highest level since March 8.
In the past five days Ethereum has gained more than 5% on Bitcoin and Brandt is confident that this run is far from over.
The trader believes that the price will hit 0.03276 BTC which corresponds to an increase of 23% on its current trading levels.
Ethereum is currently down over 80% from its all time high of 0.12396 BTC ($1,432) achieved in February 1 2018 and is currently trading for $245. Ether has seen a gain of 1.34% in the past 24 hours.
If the bullish momentum continues Ethereum could test the $300 resistance barrier in the coming days.
Brandt’s view accepted by top trader Tuur Demeester
Tuur Demeester of Adamant Capital agrees with Brandt analysis and believes that Ethereum future is very bullish.
However, he hasn’t been sold on Ethereum’s fundamentals in spite of the booming Decentralized Finance (DeFi) ecosystem.
Ethereum is also expected to experience a further rise in the coming months with the impending release of Ethereum 2.0.