According to Market Analyst ETH Will Outperform BTC In 2023
The crypto strategist who correctly called Bitcoin’s (BTC) bottom in 2018 is now predicting that Ethereum (ETH) will start huge rallies next year on its way to becoming the most valuable digital asset by market cap.
The anonymous analyst Smart Contracter tells his 216,700 Twitter followers that he thinks the ETH/BTC pair will skyrocket to a level not seen in about five years.
A bullish ETH/BTC chart shows that Ethereum is likely to do better than Bitcoin in the future.
Smart Contracter says,
“If ETH/BTC every gets to 0.062 [BTC] in Q1 2023, it’ll be a screaming buy. This is one of the trades im looking forward to the most next year. Will definitely take a few months though.”
Smart Contracter uses the Elliott Wave theory, which is a type of technical analysis that tries to predict how prices will move in the future by looking at how crowd psychology tends to show up in waves. The analyst’s chart shows that ETH/BTC will rise above 0.09 BTC ($1,544) by March 2023. This is a price level that was last seen in January 2018.
Smart Contracter also says that he thinks Ethereum will overtake Bitcoin in the next bull market and become the largest crypto by market capitalization.
“[ETH is] still in a multi-year uptrend. Definitely want to be in it to see it flip BTC in the next cycle.”
Smart Contracter says that Ethereum will break through resistance around $1,300 in the near future.
At the time of writing, you can buy Ethereum for $1,267, which is a small increase from earlier in the day.
The crypto analyst is also keeping a close eye on the peer-to-peer payments network Litecoin (LTC), which he says is currently trading within a bullish continuation pattern on both the USD and BTC pairs.
“Like BTC and ETH, I’m back in LTC on this structure reclaim. LTC/BTC also looking like a bullflag in an uptrend on four-hour [chart] so I suspect it outperforms BTC on this next leg up.”
