Crypto strategists who rightly called Bitcoin’s (BTC) 2018 trough predict that Ethereum (ETH) will start an epic rally next year on its way to becoming the largest digital asset by market cap.
Anonymous analyst Smart Contracter has told his 216,700 Twitter followers that he expects the ETH/BTC pair to surge towards levels not seen in about five years.
A bullish ETH/BTC chart suggests that Ethereum is likely to generate more profits than Bitcoin.
The smart contract says:
“When ETH/BTC all hit 0.062 [BTC] In Q1 2023, it will be a scream buy. This is one of the deals I’m most looking forward to next year. It will definitely take months. ”
Smart contracts rely on the Elliott Wave theory. This is a technical analysis approach that attempts to predict future price action according to the herd mentality that tends to emerge in waves. According to the analyst’s chart, he sees ETH/BTC surge above 0.09 BTC ($1,544) by March 2023, a price level last witnessed in January 2018.
smart contract too To tell He believes Ethereum will overtake Bitcoin in the next bull market and become the largest cryptocurrency by market capitalization.
“[ETH is] Uptrend for the first time in years. We would love to see BTC reverse in the next cycle. ”
In the short term, the smart contract predicts Ethereum’s breaching resistance at around $1,300.
At the time of writing, Ethereum is trading at $1,267, a slight increase for the day.
Crypto analysts are also keeping a close eye on peer-to-peer payment network Litecoin (LTC), which is currently trading within a bullish continuation pattern for both the dollar and bitcoin pair.
“Like BTC and ETH, I’m back in LTC with a recovery in this structure. LTC/BTC also looks like a bull flag trending up on the 4-hour timeframe [chart] Therefore, we expect it to outperform BTC in this next leg. ”
As of this writing, LTC is trading at $76.02, flat for the day.
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