Opinion: Ethereum can “flip” Bitcoin in 2024
In 2024, Ethereum may surpass Bitcoin in terms of price growth, says Andre Dragos, head of research at ETC Group.
The fundamental foundation will be technological advances and Ethereum's unshakable position as the leading smart contract platform. The expert also noted that throughout 2023, the second cryptocurrency by capitalization lagged behind digital gold in terms of price growth
The report also states that the price of Ethereum will be driven higher by the “deflationary burn mechanism” introduced in August 2021 through the implementation of EIP-1559 as part of the London hard fork. The decrease in coin supply, combined with attractive staking yields, could lead to the so-called flipping - the outperformance of Ether above Bitcoin by market capitalization
Dragos added that since its inception in 2015, Ethereum has consistently outperformed Bitcoin in terms of growth. Exception - 2023
Coinbase researchers also expect Ether to return to average performance in the coming year, given the “relative discount” to the price of digital gold
