Galaxy Digital CEO Mike Novogratz forecasts that Ethereum may outperform Bitcoin in the coming months, driven by growing institutional demand and a limited supply of ETH.
Novogratz's Prediction on Ethereum
Novogratz suggests that over the next 3-6 months, Ethereum could overtake Bitcoin, driven by increasing institutional demand and the limited supply of ETH. This prediction could shift market dynamics in cryptocurrency.
Increase in Institutional Interest
There has been a noticeable rise in institutional investor interest in Ethereum. Companies appear to be favoring Ethereum over Bitcoin, indicating changes in the allocation of crypto assets.
Implications for the Crypto Market
Changes in demand for Ethereum could lead to significant price increases. If institutional buying continues to rise, it may trigger new price levels above $4,000. Historical data indicates that during periods such as the DeFi boom, Ethereum closed the gap with Bitcoin, suggesting a similar scenario could unfold.
Mike Novogratz's prediction regarding Ethereum's potential superiority over Bitcoin highlights the importance of changing strategies among institutional investors and draws attention to the dynamics of the cryptocurrency market.
