Bitcoin Vs. Ethereum: Legendary Analyst Says He’s ‘Pretty Confident’ ETH Will Outperform

Legendary crypto analyst, Benjamin Cowen has expressed confidence that Ethereum (ETH), the world’s largest altcoin, could outperform Bitcoin (BTC) soon. This optimistic projection comes as both leading cryptocurrencies experience significant price fluctuations, however, Cowen foresees Ethereum’s current downtrend concluding by year’s end, setting the stage for a resurgence.

Ethereum On Track To Outperform Bitcoin

In a recent interview on the Bankless podcast, Cowen provided an in-depth analysis of current crypto market conditions, emphasizing Bitcoin and Ethereum price movements compared to previous bull cycles. The analyst offered insights into Ethereum’s outlook, believing that the cryptocurrency will outperform Bitcoin in the next bull cycle.

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Cowen disclosed that the Third Quarter (Q3) of 2024 has been relatively boring, with August and September seeing sharp price declines and negative sentiment throughout the broader crypto market. He predicted that Ethereum could drop even lower from this point before experiencing any notable uptick in its price.

The analyst noted that Ethereum usually follows a unique trend pattern in each cycle, where the ETH/BTC trading pair tends to reach a top, then a low and subsequently forms a lower high. He disclosed that in 2016, Ethereum broke support for the first time, peaked and then experienced a decline of over 70%. However, the cryptocurrency eventually recovered and resumed its upward trajectory in the post-halving year.