Ethereum Could Overtake Bitcoin by 2024, Research Firm Says

ethereum could overtake bitcoin by 2024 as it capitalizes on its technological advances and unique position as a leading smart contract platform, says ETC Group.

The deflationary burning mechanisms of the ethereum network and the attraction of its staking returns are behind the prediction in a recent crypto-Market-Outlook-2024/ETC_Group_2024_Outlook.pdf” target=”_blank” rel=”noopener”>report by head of research André Dragosch

eth could potentially overtake bitcoin due to its technological advancements and mastery of smart contracts, says ETC Group Head of Research.

You think $eth will surpass $btc in 2024?

Share your thoughts in our survey! #BULLRUN2024 bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum

– tastycrypto (@tastycrypto) December 27, 2023

Dragosch anticipates a mean reversion of ethereum's price that will see it return to its average relative performance against bitcoin.

ethereum May Overtake bitcoin by 100% in 2024

ether a bitcoin-price-prediction-experts-forecast-bullish-trends-calsona-o1vue”>bitcoinethereum's 12-month relative performance has historically shown a strong mean-reverting trend, he said, adding that except for 2023, ethereum has consistently outperformed bitcoin since its debut in July 2015.

“At the time of writing, eth has underperformed btc by -27% over the last 12 months,” he said. “Based on historical performance patterns, such poor performance has historically been associated with a trailing 12-month outperformance of approximately +100%.”

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