Raoul Pal of Real Vision has recently made a controversial statement where he stated that he believes that the entire active altcoin ecosystem of apps and devs of Ethereum will most probably succeed Bitcoin during the forthcoming time.
Raoul Pal is the co-founder of Real Vision and lately got became the center of debates in the cryptocurrency sector. He made the spirited comment that Ethereum along with several other coins has the ability to surpass Bitcoin soon.
Ethereum To Overtake Bitcoin?
Pal has even shared a financial chart that shows the prices of Ethereum in comparison to that of Bitcoin from 7th August 2015 which was 6 years after the creation of BTC. This chart shows that Ethereum has in fact exceeded BTC by a massive 250%.
According to the reports of TradingView, ETH had started trading at almost 0.006 Bitcoin on 10th August 2015. At present, ETH is being traded at approximately 0.0359 BTC.
The supporters of BTC were displeased with this statement of Pal and the way in which he interpreted the financial journey of the 2 altcoins. Arthur Pelt has even argued that ETH has long lost its early hype and popularity. It can be easily said that since the bull run of 2017, ETH has declined by 77% along with a long-term dip. Pelt said these are the hard, cold facts.
Pal responded saying that since the halving period began, ETH has successfully managed to surge more than 100%.
Willy Woo, an on-chain analyst, indicated that the price rise of ETH was merely due to the initial hype and has a little possibility for an increase in price in the future. Pal has continuously tried to defend ETH against BTC in this debate.