“Ethereum is Going to Follow Suit”: Why This Crypto Trader Remains Bullish on ETH

Ethereum (ETH) has seen some negative sentiment in recent weeks as it has underperformed compared to Bitcoin (BTC). However, this is simply natural market movement, and Ethereum still has a bright future ahead, according to crypto trader Michaël van de Poppe.

In a recent Twitter thread, van de Poppe explained several reasons why Ethereum’s underperformance is only temporary. “Ethereum is going to follow suit, and that has several implications and reasons because there’s no price action as of yet,” he wrote.

Firstly, Bitcoin has taken the spotlight recently due to the upcoming approval of a Bitcoin spot ETF in the US, which will open the doors for more institutional investment. This has drawn attention and money flow towards BTC rather than ETH in the short-term.

Secondly, market seasonality tends to favor Bitcoin in the last quarter of the year, while Ethereum and altcoins historically perform better in the first quarter. “The last quarter of the year is the worst for the Ethereum ecosystem. This remains valid until proven otherwise, and the previous quarter showed the same,” said van de Poppe.

However, van de Poppe believes Ethereum will regain ground and outperform Bitcoin again in the new year for several key reasons:

Firstly, Ethereum’s transition to proof-of-stake (PoS) consensus will start having more tangible impacts over the next year as the network evolves. This will make ETH more attractive as an investment and could make it deflationary over time.

Secondly, a spot ETF for Ethereum has been proposed and will likely be approved after the Bitcoin ETF. This could be even more significant than the Bitcoin ETF in terms of opening up institutional investment and driving new Ethereum-based financial products.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Lastly, money flow cycles tend to rotate between Bitcoin and altcoins each market cycle. With BTC hitting new highs already, a rotation into ETH and altcoins could occur in early 2024 if historical patterns repeat.

So while short-term underperformance is disappointing for Ethereum bulls, the long-term fundamentals and outlook remain highly bullish. According to van de Poppe’s analysis, Ethereum still looks poised to massively outperform Bitcoin over the next 12 months.

Note: ETH is up over 4% today and is trading around $2330 at the time of writing. BTC barely moved, BTC is trading around $43,700.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency