Real Vision’s Raoul Pal believes that altcoins with an active ecosystem of devs and apps will likely beat out Bitcoin over time. Real Vision co-founder and CEO Raoul Pal has sparked a spirited debate after predicting that Ethereum and other coins with "network effects" will outperform Bitcoin over time. Pal shared a chart of Ether’s price relative to BTC since Aug. 7, 2015 — six years after Bitcoin was created — showing that “ETH has outperformed BTC by 250%.”
According to TradingView’s Bittrex chart, ETH began trading for roughly 0.006 BTC on Aug 10, 2015. It is currently sitting at 0.0359 BTC.
Bitcoiners weren’t pleased with Pal’s interpretation of events, with Craig Wright antagonist, Arthur van Pelt, arguing Ethereum has outlived its early hype and that since the 2017 bull run “it’s down 77% and on a long term decline. Cold hard facts.”
In response, Raoul remarked “Since this halving cycle started, it’s up over 100%. Cold hard facts.”
Fund strategist and Bitcoin advocate Brad Mills took issue with the comparison itself, asserting the logic underpinning the analysis is flawed as it does not offer a comparison between the currencies since their respective beginnings.
On-chain analyst Willy Woo suggested that Ethereum’s price rise was simply the initial hype cycle playing out and that ETH has little potential for future price increases. The first four-year cycle of any coin, he explained, “is its highest climber,” adding that ETH will likely just oscillate around Bitcoin’s price from here on, and it’s time to move on from it:
“You may as well just leverage BTC now that we are in 2021 with well developed extremely liquid derivative markets."
There's more riding on this debate about ETH's rise in BTC terms than just pride. In November last year What Bitcoin Did podcaster Peter McCormack challenged Pal to a bet, taking the position that BTC will be up against ETH after one year. Pal took the other side, and states ETH will rise closer to Bitcoin’s price after one year, with the loser to fly the winner over for drinks, in either London or theCaymen Islands.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 75.2% | 42 | $70 152.46 | -0.52% | 9.16% | $1 379 720 746 792 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 72% | 50 | $3 539.66 | -0.62% | 3.84% | $425 009 559 105 | ||
3 | USDT | Tether predictions | 94.4% | 1 | $1.000055 | 0.06% | 0.01% | $104 510 091 029 | ||
4 | BNB | Binance Coin predictions | 62.4% | 80 | $618.69 | 6.32% | 10.23% | $92 516 482 129 | ||
5 | SOL | Solana predictions | 56.8% | 88 | $185.73 | 1.30% | 7.23% | $82 540 602 104 | ||
6 | XRP | XRP predictions | 82.8% | 28 | $0.629488 | 1.71% | 1.58% | $34 548 992 989 | ||
7 | USDC | USD Coin predictions | 92.8% | 2 | $0.999994 | 0% | 0.01% | $32 521 963 256 | ||
8 | DOGE | Dogecoin predictions | 65.2% | 66 | $0.214140 | -0.90% | 38.70% | $30 764 569 227 | ||
9 | ADA | Cardano predictions | 66.4% | 66 | $0.657719 | 1.87% | 5.93% | $23 404 582 255 | ||
10 | AVAX | Avalanche predictions | 61.6% | 87 | $53.69 | -0.22% | -5.45% | $20 263 976 659 | ||
11 | SHIB | SHIBA INU predictions | 54.4% | 94 | $0.000031 | -3.91% | 14.05% | $18 113 315 993 | ||
12 | TON | Toncoin predictions | 60.8% | 86 | $4.97 | -0.13% | 16.21% | $17 248 308 780 | ||
13 | DOT | Polkadot predictions | 72% | 49 | $9.60 | 1.61% | 6.27% | $13 699 255 317 | ||
14 | BCH | Bitcoin Cash predictions | 70.4% | 57 | $624.46 | 9.73% | 52.78% | $12 291 074 092 | ||
15 | LINK | Chainlink predictions | 76.8% | 42 | $19.01 | -1.40% | 5.62% | $11 160 064 412 |
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