The last two days have been particularly good for Ethereum as the crypto rides on the positive waves of successive good news flowing within its community. As this happens, the market leader, Bitcoin, doesn’t look so active even as the rest of the market experiences varied price-actions.
With the bulls expected to take over soon, a lot of people have found themselves wondering which of the two top cryptos (ETH and BTC) stands a better chance to swell faster.
Ethereum At $2,000 Before Bitcoin At $100,000
Author of ‘B is for Bitcoin’, Graeme Moore believes Ethereum will hit the $2,000 price level before Bitcoin moves to $100,000.
Unpopular opinion: ETH will go to $2,000 before BTC goes to $100,000
(both are roughly a 10x)
— Graeme Moore (@MooreGrams) September 17, 2019
While some expecting the figure to materialize by 2021 may sound a bit too optimistic, there are those who feel that 2023 could be a good projection for Bitcoin to hit that level. Either way, the majority of people expect Bitcoin to reach $100,000 in the next few years.
The Case For Ethereum
The last bullish cycle saw ETH soar to the highs of $1,432 before coming down heavily as the crypto winter set in at the onset of 2018. Since the next cycle is expected to surpass the last, analysts prospect a rather conservative figure of $2,000 as ETH’s next high target.
Of late, Ethereum has thrived on good news, especially after the recent upgrade. The crypto has spiked to reach past the $200 mark. At the time of this writing, Ethereum is trading at around $220 with $23.8 billion in total market cap and $10.66 billion in daily trading volume.
Which Comes First?
Some bits of math here.
Bitcoin at $100k would put its total market cap at roughly $2 trillion, while for Ethereum to reach $2k, its market cap would need to swell up to $200 billion.
From a critical point of view, it’s much easier for ETH to achieve a $200 billion market cap than it is for Bitcoin to achieve $2 trillion within a few years. As such, it’s fair to opine that it’s possible that Ethereum will reach $2,000 price before Bitcoin reaches $100,000.