Prominent trader and analyst CryptoCobain is sharing his thoughts on the potential threat Ethereum (ETH) poses to Bitcoin (BTC).
In a conversation with Three Arrows Capital CEO Su Zhu and crypto researcher Hasu, the pseudonymous trader explains how Ethereum could disrupt Bitcoin’s upward momentum.
CryptoCobain suggests that if Ethereum can overtake Bitcoin’s market cap for an extended period of time, it could jeopardize the success of the leading crypto asset as long-term BTC owners trade their holdings to ETH.
“I think a lot of the people that are holding Bitcoin now are in the never sell camp. And worst-case scenario they’ll go, ‘We should also allocate to Ethereum,’ and take another 1% allocation out of their treasury.
On a longer timeframe, I do think the bear case for Bitcoin is Ethereum.”
In CryptoCobain’s opinion, Ethereum will inevitably flip Bitcoin’s market cap temporarily, but will only threaten Bitcoin if it is able to sustain that growth.
“If you have