When looking at altcoins like Cardano, Synthetix, Chainlink, and Dogecoin, market leaders Bitcoin and Ethereum have effectively flatlined. The two foremost cryptocurrencies have traded in a tight range as altcoins have broken strongly to the upside.
Yet there is a number of prominent analysts, from both Wall Street and the crypto space, that see ETH soon outperforming BTC.
Raoul Pal thinks Ethereum could be the outperformer this upcoming bull cycle
In a tweet thread published on Jul. 8, the Wall Street veteran and former macro fund manager said that there’s a good likelihood ETH is “going to be the [initial] outperformer” in the upcoming Bitcoin bull cycle.
Pal shared the chart below, showing that the ratio between Ethereum and Bitcoin is undergoing a bull breakout after a two-year bear market.