The controversy flared up when Real Vision co-founder and CEO Raoul Pal suggested that Ethereum and other cryptocurrencies with “network effect” will outperform Bitcoin over time.
Since August 7, 2015 (six years after Bitcoin’s development), Pal shared a chart revealing that Ethereum outperformed BTC by 250 percent.
Fascinating to see that since inception ETH has outperformed BTC by 250%. It only fell below its initial price in BTC for the first 5 months of its existence in 2015.
Let that put rest to the idea that all other tokens trend towards zero in BTC terms. pic.twitter.com/ulCpsjG8up
— Raoul Pal (@RaoulGMI) April 7, 2021
According to the chart of the Bittrex exchange on TradingView, ETH started trading at around 0.006 BTC on August 10, 2015. Currently, it finds buyers at a value of 0.0359 BTC.
Bitcoin supporters comment on Pal’s comments opposed. Arthur van Pelt explained that Ethereum had lost its popularity in the early period, “dropping 77 percent and showing a long-term decline” since the 2017 bull market, emphasizing “These are cold and hard facts.”
In response, Raoul said, “Since the half-life cycle we are in, it has increased by over 100 percent. This is a cold and harsh reality.” answered.
Fund strategist and Bitcoin supporter Brad Mills claimed that the logic underpinning the comparison was flawed. According to him, the data are inconsistent as neither currency is calculated from the starting point.
On-chain analyst Willy Woo said that Ethereum’s price increase belongs to the first cycle of popularity and that ETH has less potential for future price increases. put forward. He explained that the first four-year cycle of any cryptocurrency is its “peak climb period” and that ETH will fluctuate around Bitcoin’s price from now on. added:
“Now that we have developed and highly liquid derivatives markets in 2021, you can now take advantage of BTC.”