For the past few weeks, the two market giants Bitcoin and Ethereum have been experiencing indecisive price movements. The tokens are failing to break through key resistance levels and cement them as support. While many analysts have already declared this a bear market, Ben Armstrong, a well-known analyst, disagrees.
In a recent Livestream, Armstrong puts out his predictions for BTC and ETH. He believes both the tokens are set to breach their previous ATH and rise higher very soon.
The analyst says, by Mid- July, Bitcoin will surge back to the high $40K levels and move towards $50K levels, as the market manipulation will swing the opposite way according to his sources. Further, in the next two months, i.e August September BTC will have a meteoric rise hit a new all-time high, and this will mark the peak of the bull run.
As for Ethereum, ETH will follow BTC. By Mid- August ETH Price will break above its ATH of $4500, it could get there faster if EIP 1559 comes at play soon. Armstrong says in the next 6 weeks ethereum will blow past $4400.
Ethereum’s dominance in the Defi platform space was also discussed on the Livestream. Analyst Spencer Tarring said if Ethereum solves its major problems of high gas fees and congestion, there will be no relevance to other platforms. He believes the release of ETH 2.0 will be the trump card to bag a big win.
Do Cardano and Solana stand a chance?
Chiming in on Ethereum dominance, analyst Justin Williams believes Ethereum is superior to its peers any day. Eventually, cities would run on it with taxation, transactions, and everything. In terms of Cardano, he says although it promises a lot not much has been done yet. Cardano is not fashionably late but instead is missing the party he added.
However, analyst Crypto Jebb on the panel had a more balanced opinion. He said While Ethereum has the first-mover advantage and is a market leader. Cardano and Solana are doing things differently as well. Be it Cardano’s involvement in African nations or Solana’s different approach and products.
Conclusively, If Cardano and Solana emerge at a faster pace and lessen the gap between Ethereum and them, they definitely do stand chance.