As Bitcoin has broken higher over the past two days, the leading cryptocurrency has finally begun to gain ground against Ethereum.
For the past month, BTC has been largely underperforming ETH due to a confluence of fundamental and technical factors. To contextualize this, here are some numbers: according to CryptoSlate data, Bitcoin has gained 33 percent in the past month while Ethereum has gained around 88 percent.
Although the performance of the latter cryptocurrency is inherently unsustainable, a Wall Street veteran expects for ETH’s outperformance of BTC to continue.
Ethereum will continue to outperform Bitcoin
Real Vision chief executive Raoul Pal says that while BTC is his main trade at the moment, he is liking Ethereum at the moment and sees it potentially outperforming Bitcoin even after an already-stellar month.
This comes after Pal, who formerly headed the Goldman Sachs’ hedge fund sales division, predicted the Ethereum rally seen over the recent weeks. Read More