A well-known cryptocurrency analyst and trader predicts that Ethereum (ETH) 
$1,658 will gain value against Bitcoin (BTC) 
$62,400. While he has held a bearish outlook on the ETH/BTC pair for the past two years, he now indicates a shift towards a bullish market trend.
Based on Technical Analysis
The analyst, known as Credible Crypto, stated to his 459,100 followers that Ethereum could experience a significant increase based on technical analyses. He suggested that Ethereum might reach a new all-time high with at least a 378% rise from its current level.
Market Capitalizations of Ethereum and Bitcoin
The analyst pointed out that Ethereum is currently trading at 0.03164 BTC, which represents a nearly 79% drop from its all-time high of approximately 0.1515 BTC reached in June 2017. While Bitcoin’s market capitalization stands at around $2.03 trillion, Ethereum is valued at approximately $390 billion.
The Future of Market Capitalization
There is also an expectation that Ethereum’s market capitalization could surpass Bitcoin’s. In 2017, Ethereum’s market value reached $37 billion, closely trailing Bitcoin at $43 billion, suggesting Ethereum could catch up.
Credible Crypto stated, “I really think we can achieve this this time.”
Based on the technical indicators shared in the ETH/BTC chart, the analyst believes it is likely that Ethereum will outpace Bitcoin by the end of the cycle. If this occurs, Ethereum is expected to equal and then surpass Bitcoin’s market capitalization.
Ethereum’s current performance and its relationship with Bitcoin remain critical areas of analysis for investors. These predictions based on technical analysis are being closely monitored for their potential impact on market movements.
The dynamic between Ethereum and Bitcoin plays a vital role in strategic decision-making for investors in the cryptocurrency market.
