Top Analyst Credible Crypto: ETH To Underperform BTC in Coming Months
A top crypto analyst and trader, known as Credible Crypto, projects that the leading smart contract platform Ethereum (ETH) will lag behind Bitcoin (BTC) in the coming months, before making a massive comeback.
The analyst shared with his 332K followers on Twitter that he’s close following ETH/BTC pair, to get a better picture on how the two leading crypto assets will perform in the coming months.
Credible Crypto projects ETH/BTC pair losing nearly 30% of its value in the next two months – in other words, Bitcoin would outperform Ethereum in the short to mid term according to the analyst.
“BTC dropped, but ETH/BTC still didnt break down. Still expecting ETH/BTC to make it’s way to the red line, but if capitulation on BTC didn’t do it, what will? In my opinion, this drop on BTC wasn’t our ‘major’ pump or dump – it was the precursor to it. The precursor to our fifth wave.”
BTC dropped, but $ETH/BTC still didnt break down ? Still expecting ETH/BTC to make it's way to the red line, but if capitulation on BTC didn't do it, what will? Imo this drop on $BTC wasn't our "major" pump or dump- it was the precursor to it. The precursor to our 5th wave. $BTChttps://t.co/2rHA2qzg6epic.twitter.com/2f8ZnCHk7E
According to his chart, ETH/BTC will correct to around 0.048 BTC by July before bottoming out and sending off to a strong rally to 0.09 BTC towards the end of 2022.
Credible Crypto believes that BTC is getting ready for its fifth wave, a final rally that could potentially take it to all time highs.
“My thoughts on BTC dominance at this time. Long story short – BTC outperforms during initial stages of our final fifth wave impulse. Alts steal the show after that as BTC top. Dominance makes a new all time low before this is all over.”
My thoughts on $BTC dominance at this time. Long story short- $BTC outperforms during initial stages of our final 5th wave impulse, alts steal the show after that as $BTC tops, dominance makes a new all time low before this is all over. pic.twitter.com/mjklIIN444
In his analysis, Credible Crypto relies on Elliott Wave theory, a form of technical analysis that predicts future price action by following crowd psychology in which a full market cycle happens in five waves. The analyst believes that BTC hasn’t yet completed the fifth and last wave, which should send it to all-time high levels, before a major market reversal.
