Cryptocurrency analyst Nicholas Merten predicts that Ethereum will flip Bitcoin this year and could be the sole driving force in the market. Merten stated that the “flippening” is most likely to happen that would make Ethereum’s market cap surpass that of Bitcoin’s.
In his latest YouTube video, the analyst revealed to his 512,000 subscribers that there could be a possibility for ETH to surpass BTC during spring this year.
“I know a lot of people think that’s far out, but Ethereum, from a previous upper band range, only needs to make I think around 80% to 100% move in order to do that. We really do think we could see a wave here going forward. I think that we could see something here in the spring but I want to keep it conservative. A lot of waning supply factors that could put ETH in a deflationary state in the near-term future which is really, really exciting stuff,” he said.
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Bitcoin and Ethereum are the most sought-after cryptocurrencies and are known to deliver stellar growth for those who hold. BTC is down -44.4% from its all-time high of $69,044 while ETH is down -48.2% from its ATH of $4,878. Both the cryptos are available at a discounted price and could surge in the indices during the next bull run.
Nonetheless, the market conditions around the world are in turmoil due to high inflation and conflict between Russia-Ukraine. A bull run is nowhere on the cards and many financial experts have predicted further dips. In fact, Bitcoin billionaire Mike Novogratz had tweeted that being a crypto investor in 2022 would be a hard job.
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“This will be a year where people realize being an investor is a difficult job,” he said in January.
Bitcoin Vs Ethereum
The Bitcoin vs Ethereum debate has been raging for close to five years now. Analysts have been predicting ETH to outperform BTC almost regularly. However, despite numerous predictions, Ethereum has not outpaced Bitcoin and both the cryptos stand tall in terms of performance.
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Moreover, accumulating Bitcoin and Ethereum could benefit investors in the long run. Both the coins deliver phenomenal returns as the years have passed. At press time, BTC was trading at $38,447.83 and is down -1.6% in the day’s trade. ETH was trading at $2,529.88 and is down -2.2% in the 24-hours day trade.