Is Ethereum (ETH) Dead, or Will It Soon Outperform Bitcoin? Analyst Answered

Cryptocurrency analyst Michaël van de Poppe recently weighed in on Ethereum's underperformance, especially in light of Solana's impressive performance to surpass $100. The analyst posed the question: "Is Ethereum dead, or will it outperform Bitcoin?"

In recent weeks, ETH has been underperforming against Bitcoin, a trend that van de Poppe describes as "organic and natural price action." He explains that everything is skewed towards pre-ETF Bitcoin, but predicts that ETH will follow.

According to the analyst, the reasons for this underperformance are twofold:

• Bitcoin in the Spotlight: Bitcoin has been in the spotlight due to the possibility of the Spot ETF being approved in the next few weeks. This has increased interest in Bitcoin as an investment and has taken the spotlight away from Ethereum. In addition, Bitcoin's halving event is approaching, which is another major reason why things are leaning towards Bitcoin rather than other altcoins.
• Seasonality: According to the analyst, just as there is seasonality in the markets, cycles also occur. According to historical price movements, the first quarter of the year was an excellent period for the Ethereum ecosystem, while the last quarter was the worst.

Despite the current negative sentiment, van de Poppe argues that Ethereum is far from dead. He believes Ethereum will take control rather than die for several reasons:

• Transition from PoW to PoS: ETH has attracted attention due to the transition from Proof of Work (PoW) to Proof of Stake (PoS). According to the analyst, the real effects of this will take time to emerge, but they are expected to emerge next year, along with the fundamental growth of the entire ecosystem. This could lead to more interest in Ethereum, which could become deflationary and a more exciting investment than Bitcoin.
• Spot ETF Applications: Just as Bitcoin has Spot ETF applications, Ethereum has a Spot ETF application that will be on the agenda after Bitcoin's approval. According to the analyst, this could be even more important than Bitcoin, as it will open the doors to decentralized applications (dApps) that will be built on Ethereum and classified within ETFs.