The main thing that will happen in 2022 will be ETH to overcome BTC, says expert2 min read
With the year 2021 drawing to a close, leading market analysts are starting to draw up forecasts and estimates for the cryptocurrency market for the next year.
According to most experts, although BTC has not reached its target of US$ 100,000 this year, the fact should happen next year after a long period of consolidation that should last throughout the first half of the year.
Thus, during this period of turmoil, the BTC could fall to US$35,000 and then start a bullish movement.
However, another forecast for 2022 predicts that the altcoin market will take the reins next year. This could be due to the boom in NFTs, DeFi, memecoins and gamecoins.
In this vein, the Chief Executive of Real Vision, Raoul Pal, said that ETH will “certainly” surpass BTC in terms of market value.
ETH will outperform BTC
In a recent YouTube interview with Stakeborg Talks, the market guru said that the current speed and growth of the ETH network indicate that it will surpass BTC in the future.
Was asked if he sees ETH “inverting” the market value of BTC, responds confidently.
“Yes definitely. For sure.”
Also, during the interview, Pal warned that there is little point in comparing the two cryptoactives.
“One is the Internet of value and the other is a store of value. They are not the same thing. The value of all mobile phone networks in the world is worth much more than gold. But nobody compares them. This is stupid. But people compare these things,” he said.
However, he said, although BTC is considered a store of value, that could change over the years.
“Now, if 10 years from now BTC has smart contracts, cheap transactions, all these things that ETH offers, that’s fine. This can change again. I don’t necessarily think of it as permanent flippening. Maybe something else will happen. I have a completely open mind,” he said.
The current market value of ETH is around US$452.9 billion, almost half the market value of BTC, which is above US$903 billion.