A well-known crypto analyst is warning traders that Ethereum (ETH) might not perform as well as Bitcoin (BTC) in the coming weeks.
Ethereum to Dip, Then Soar?
Crypto trader Kaleo, who has a large following on social media, believes that Ethereum will be outpaced by Bitcoin in the next week. However, he thinks that the launch of Ethereum exchange-traded funds (ETFs) will eventually cause Ethereum to outperform Bitcoin.
“I think Ethereum actually dips a bit next week compared to Bitcoin,” Kaleo said. “There’s a lot of hype around the spot ETF launch, which I think is justified, but I don’t think it’ll lead to Ethereum outperforming Bitcoin until a couple of months later.”
Don’t Panic After the ETF Launch
Kaleo also reminded traders not to panic if Ethereum doesn’t immediately rise after the ETF launch. He pointed out that Bitcoin experienced some volatility before it really took off after its own ETF launch.
“Just a reminder, Bitcoin didn’t just shoot up right after its spot ETFs started trading,” Kaleo said. “The price went up leading into it, then dipped for a couple of weeks before really taking off. So, if we don’t see a big jump in Ethereum next week after the ETFs launch, it’s not the end of the world.”
Bitcoin Still Outperforming
Finally, Kaleo concluded his analysis by saying that Bitcoin is still poised to outperform the stock market.
“Bitcoin is bouncing back strongly against the stock market,” Kaleo said. “It looks pretty clear that Bitcoin will continue to outperform stocks from here.”
It’s important to remember that this is just one analyst’s opinion and not financial advice. Do your own research before making any investment decisions.
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