Compiled by: Liu Jiaolian
A few days ago, with the sharp rise of BTC, the entire crypto market was driven upward. Raoul Pal, the former GLG macro hedge fund manager and former Goldman Sachs hedge fund sales manager, recently tweeted that the ETH/BTC exchange rate is about to break through the wedge structure formed since 2017 on a large scale.
"The chart of ETH/BTC is absolutely stunning... ...and get ready for the next big move - breaking the giant wedge... Let's wait and see..."
After he posted In the chart, he hinted through the auxiliary lines that the ETH/BTC exchange rate has broken out of the descending channel and is about to reverse into an upward trend, which may lead to a breakout of the years-long descending wedge.
Since the 2017 bull market cycle triggered a surge in ETH due to the ICO craze, ETH has obviously overdrawn its value growth in the next few years, so that in the next 6 or 7 years, its growth rate has never been Can exceed BTC.
Glassnode co-founders Jan Happel and Yann Allemann also expressed a bullish view on the ETH/BTC exchange rate on the Twitter account Negentropic, which they jointly operate.
「"Promote the exchange rate of copycat season"< br>
"The ETH/BTC exchange rate is the measurement standard of the crypto market. The higher the exchange rate, the stronger the risk appetite of altcoins!
“When ETH/BTC rebounds, so do the altcoins.
“After a long period of consolidation since late 2021, we just broke out to higher levels.< /em>
“Altcoins are about to explode
“Everything points to a Blow-Off top (Elliott Wave Theory) Top) Model"
Mark Yusko, CEO and founder of hedge fund Morgan Creek Capital, believes that Ethereum (ETH) may appreciate to a five-digit price.
On February 24, 2024, according to DailyHODL, Yusko said in the latest interview with "Altcoin Daily" that according to the ETH/BTC exchange rate, when Bitcoin finally hits the $150,000 mark, , ETH may rise to $10,000 to $15,000 from current levels.
“I probably have no reason to deviate from the long-standing ratio between Bitcoin and Ethereum. It used to be almost exactly 10 to 1. So if Bitcoin was $20,000, then Ethereum Ethereum is $2,000...
"Assuming Bitcoin rises to $150,000 - I think it will - the price comparison between Bitcoin and Ethereum will not It goes all the way back to 10:1, but instead goes to... let's say 15:1. So, the price of Ethereum is $10,000.
"I think There are a lot of people with that number in their heads. A lot of people will say: That’s not enough.
“Let’s say it goes all the way back to 10 to 1. So Ethereum’s The price is US$15,000. Therefore, a more comfortable number is between US$10,000 and US$15,000." More than a year ago, Liu Jiaolian pointed out that Bitcoin was at 16k The price of -17k is roughly equivalent to the bottom at the end of 2015, or the bottom of the "312" circuit breaker crash in 2020, and calculates the possible BTC height of the next bull market and the total size of the crypto market (for details, please click on the decryption report to check it out yourself). On this basis, the following outlook is made for the development of Ethereum:
“If Ethereum can still occupy about 20% of the total crypto market value in the next bull market cycle, Then the market value of Ethereum will be enlarged from about 160 billion US dollars today to 2.4-4 trillion US dollars, that is, an increase of 15-25 times. Roughly calculated based on the circulation of 122 million Ethereum coins (assuming that additional issuance and burning are roughly equivalent), The price of each Ethereum is expected to reach US$20,000-30,000." (or, US$15,000-30,000)
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