Raoul Pal, a macroeconomist and former senior banker, says Ethereum is on the verge of overtaking Bitcoin and predicts a “new spring” for the cryptocurrency market. The former chief banker at Goldman Sachs bases this on the so-called Tom DeMark Sequential Index.
Bullish on Ethereum
Based on the Tom Demark Sequential Index, Raoul Pal expects Ethereum to outperform Bitcoin in the coming period.
“This is the weekly DeMark 9 amount for the ETH/BTC trading pair to cross. Ethereum will outperform Bitcoin from this point on, which is normal at the end of the crypto spring,” said bullish Raoul Pal.
According to Raoul Pal, Ethereum-based ETFs will be the “holy grail” for fund managers until some form of competition emerges. Raoul Pal sees the ETF as the holy grail, among other things, because investors can also earn a return through staking.
The analyst contrasts with Raoul Pal
However, not everyone agrees with Raoul Pal’s analysis.
Leading macro analyst Benjamin Cowen predicts that Bitcoin will outperform the rest of the market in the near future. Benjamin Cowen believes that Bitcoin’s market dominance will increase further in the near future.
“In recent years, my portfolio has mainly consisted of Bitcoin, because I expect the biggest coin in the market to outperform the rest. Not the entire market, but most of the rest of the market. This is why,” says Benjamin Quinn, who is betting entirely on Bitcoin. “Behind Bitcoin’s continued growth in dominance.”
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