Head of Research at ETC Group: ETH could surpass Bitcoin in the next 12 months

Real Vision TV CEO Raoul Pal is confident that in 2024 the price of Ethereum will increase by a greater percentage than that of the first digital currency. This will happen even against the backdrop of the approval of the BTC ETF.

Pal noted that in the near future crypto investors will begin to “shake up” their own portfolios and ETH may demonstrate better results than the main digital coin. When introducing a BTC-ETF, investors will want to take profits, and they will likely do so on Ethereum.

“So ETH is just doing what it’s supposed to be doing. But it’s not giving us the big surprise. I think that surprise comes the moment the ETF is out in Bitcoin and people will focus on the ETH ETF. And it’ll bring the ETH ecosystem alive.

This year, it’s been a story of Solana which I’ve been long all year, and Bitcoin. That barbell has been the best trade in the world. Or, in fact, just saying SOL has been the best trade in the world bar none. But ETH, it will play catch-up, it will do well,” said the former top manager of Goldman Sachs.

At the same time, the crypto enthusiast expects a significant increase in the Bitcoin rate. It is likely that events will develop according to the scenario of 2015, when the first digital coin showed continued growth without major corrections.

Head of Research at ETC Group Andre Dragosh also believes that next year the second most popular cryptocurrency is capable of surpassing BTC in terms of value growth dynamics. The prerequisite will be technological advances and the confident position of Ethereum as one of the main smart contract platforms.

Additionally, the analyst stated that ETH has lagged behind Bitcoin in terms of price growth over the course of this year.

“Ether has underperformed bitcoin in the last 12 months, but it could outperform bitcoin in the next 12 month,” Dragosh emphasized.

The “deflationary combustion mechanism” introduced in 2021 after the London hard fork will also help the Ethereum price move.

*The material is not investment advice. We encourage users to conduct their own analysis.