Top Crypto Analyst Predicts Ethereum Will Outpace Bitcoin in 2023 – Here’s His Goal
The crypto strategist who correctly called Bitcoin’s (BTC) 2018 bottom predicts that Ethereum (ETH) will launch epic rallies next year on its way to becoming the largest digital asset by market capitalization.
The pseudonymous analyst Smart Contractor tells his 216,700 Twitter followers that he expects the ETH/BTC pair to skyrocket to a level not seen in about half a decade.
A bullish ETH/BTC chart suggests that Ethereum is likely to generate more gains than Bitcoin.
says smart entrepreneur,
“If ETH/BTC each gets to 0.062 [BTC] in Q1 2023 it will be a screaming buy. This is one of the trades I’m most looking forward to next year. It will definitely take a few months.”
Smart Contracter relies on the Elliott Wave theory, a technical analysis approach that tries to predict future price action by following crowd psychology that tends to manifest itself in waves. According to the analyst’s chart, he sees ETH/BTC rising above 0.09 BTC ($1,544) by March 2023, a price level last seen in January 2018.
Smart entrepreneur too says that he thinks Ethereum will usurp Bitcoin in the next bull market and become the largest crypto by market cap.
“[ETH is] still in a multi-year upward trend. Will definitely be in it to see it flip BTC in the next cycle.”
In the short term, Smart Contractor predicts Ethereum breaking resistance around $1,300.
At the time of writing, Ethereum is changing hands for $1,267, a fractional increase on the day.
The crypto analyst is also keeping a close eye on peer-to-peer payment network Litecoin (LTC), which he says is currently trading within a bullish continuation pattern on both the USD and BTC pairs.
“Like BTC and ETH, I’m back in LTC on this structure. LTC/BTC also looks like a bull flag in a four-hour uptrend [chart] so I suspect it will outperform BTC on this next leg.”
At the time of writing, LTC is changing hands for $76.02, fixed on the day.
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