Coin Bureau offers a potential Bitcoin flip ETH scenario
Coin Bureau host says ETH could take Bitcoin’s top crypto spot this year.
“If ETH BTC crashes, it could be soon. This really depends on the 2 factors I mentioned earlier. Specifically: Accept Spot ETF (Portfolio Swap Fund) and merge Ethereum from PoW to PoS…
These two events most likely occur in the same month. Some pending Bitcoin ETF applications could be approved in March, and the Ethereum consolidation not long after. If the spot bitcoin ETF is approved, there is a chance that ETH will not catch up with BTC even if the consolidation goes well.
If an Ethereum consolidation occurs before a spot Bitcoin ETF is approved, it’s possible that ETH will find enough strength to dethrone Bitcoin, at least temporarily. The only caveat here is that we will likely enter a bear market when the Federal Reserve starts raising interest rates… If the bear market is active at the time of Ethereum consolidation, there likely isn’t enough potential for no market momentum. On the contrary, it’s difficult to envision a bear market in which a spot bitcoin ETF is approved, meaning ETH BTC is less likely to flip in the short term.”
The analyst also commented on the idea that ETH could replace Bitcoin as the number one cryptocurrency.
“BTC and ETH are not fundamentally the same. BTC is digital gold and ETH is digital oil. If the market cap of crude oil exceeds the market cap of gold or vice versa, it doesn’t matter for either asset, so why mention oil and gold in digital form? To me, both cryptocurrencies face their own challenges to grow, but both will ultimately dominate in their respective niches.”
ETH price 4 hour chart | Source: Trade View
Join CoinCu Telegram to keep track of news: https://t.me/coincunews