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<p>Ethereum (ETH) has seen some negative sentiment in recent weeks as it has underperformed compared to Bitcoin (BTC). However, this is simply natural market movement, and Ethereum still has a bright future ahead, according to crypto trader Michaël van de Poppe.</p>
<p>In a recent Twitter thread, van de Poppe <a href="https://x.com/CryptoMichNL/status/1738232316546142261?s=20" target="_blank" rel="noopener noreferrer nofollow">explained</a> several reasons why Ethereum’s underperformance is only temporary.<em> “Ethereum is going to follow suit, and that has several implications and reasons because there’s no price action as of yet,</em>” he wrote.</p>
<p>Firstly, Bitcoin has taken the spotlight recently due to the upcoming approval of a Bitcoin spot ETF in the US, which will open the doors for more institutional investment. This has drawn attention and money flow towards BTC rather than ETH in the short-term.</p>
<p>Secondly, market seasonality tends to favor Bitcoin in the last quarter of the year, while Ethereum and altcoins historically perform better in the first quarter. “The last quarter of the year is the worst for the Ethereum ecosystem. This remains valid until proven otherwise, and the previous quarter showed the same,” said van de Poppe.</p>
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<p>However, van de Poppe believes Ethereum will regain ground and outperform Bitcoin again in the new year for several key reasons:</p>
<p>Firstly, Ethereum’s transition to proof-of-stake (PoS) consensus will start having more tangible impacts over the next year as the network evolves. This will make ETH more attractive as an investment and could make it deflationary over time.</p>
<p>Secondly, a spot ETF for Ethereum has been proposed and will likely be approved after the Bitcoin ETF. This could be even more significant than the Bitcoin ETF in terms of opening up institutional investment and driving new Ethereum-based financial products.</p>
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<p>Lastly, money flow cycles tend to rotate between Bitcoin and altcoins each market cycle. With BTC hitting new highs already, a rotation into ETH and altcoins could occur in early 2024 if historical patterns repeat.</p>
<p>So while short-term underperformance is disappointing for Ethereum bulls, the long-term fundamentals and outlook remain highly bullish. According to van de Poppe’s analysis, Ethereum still looks poised to massively outperform Bitcoin over the next 12 months.</p>
<p>Note: ETH is up over 4% today and is trading around $2330 at the time of writing. BTC barely moved, BTC is trading around $43,700.</p>
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<p>The post <a href="https://captainaltcoin.com/ethereum-is-going-to-follow-suit-why-this-crypto-trader-remains-bullish-on-eth/" rel="noopener noreferrer nofollow">“Ethereum is Going to Follow Suit”: Why This Crypto Trader Remains Bullish on ETH</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

“Ethereum is Going to Follow Suit”: Why This Crypto Trader Remains Bullish on ETH

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