Top Crypto Strategist Predicts Bitcoin (BTC) Will Surpass Ethereum (ETH) at Lightning Speed

The post Top Crypto Strategist Predicts Bitcoin (BTC) Will Surpass Ethereum (ETH) at Lightning Speed appeared first on Coinpedia Fintech News

Bitcoin has always been synonymous with cryptocurrency and has been the most valued in the industry for several years. However, in 2022 several people were claiming that with the merger ETH will take over BTC to be the king asset of crypto.

With the recent Ethereum enhancements, the native Ether token has witnessed a significant increase in popularity. This price was projected to climb in the future year (2022), with many financial and cryptocurrency experts expecting that ether will overtake bitcoin.

Kaleo’s prediction for BTC

Pseudonymous analyst Kaleo informs his 562,700 Twitter followers that the Ethereum/Bitcoin pair (ETH/BTC) is presently trading below a diagonal trendline, implying that ETH will likely trail BTC in terms of gains. He claims that the high timeframe support line was ultimately broken by ETH/BTC.

Expect BTC to start outpacing a little faster at some point in the upcoming weeks. A bearish ETH/BTC chart traditionally shows that Bitcoin will likely increase in value more quickly than Ethereum and the overall altcoin market.

$ETH / $BTC finally broke beneath the HTF support line we’ve been watching.

Remember – this chart only shows relative strength to BTC, so expect to see BTC begin to outpace a bit more rapidly sometime over the next several weeks. pic.twitter.com/tky1q9DDIw

— K A L E O (@CryptoKaleo) February 13, 2023

Looking at Bitcoin specifically, Kaleo predicts that BTC will likely reach the $30,000 price level after successfully bouncing off support at roughly $21,000. High timeframe support has been remarkably stable. Currently, at 4,000 support, the SPX (S&P 500 index) is still expected to rise to 4,300 in the upcoming weeks. A magnet is $30,000. 

According to Kaleo, Bitcoin will probably gain further momentum in the near term if it overcomes resistance at $22,400. The CPI was somewhat higher than anticipated, and the market is essentially flat. After some initial instability, SPX and NDX [Nasdaq-100 Index] is ready for a run higher, while BTC is vying to retake a significant level it lost last Thursday. A magnet is still $30,000 and up.