Cryptocurrency analyst and influencer Tyler Swope says the leading altcoin Ethereum will gain more value than Bitcoin when Bitcoin (BTC) enters another bullish phase. Let’s examine Tyler Swope’s predictions together…
Tyler Swope: Leading altcoin ETH will rise more than BTC
Renowned analyst Tyler Swope says that he expects the second largest cryptocurrency by market cap to increase more intensely than its rival, as Ethereum’s dominance increases and the ratio between Ethereum price and Bitcoin price continues to narrow. Tyler Swope adds the following to his comments on the subject:
…Ether (ETH) is gaining rates and is ready to go extremely bullish. If Bitcoin (BTC) gives any signs of the bullish green, Ether will generally rise much higher in these markets.
Tyler Swope: Things look better for Ethereum now
YouTuber says that Ethereum’s flexibility is one of the factors that emerged after the Chinese mining ban. Tyler Swope adds the following to his comments on the subject:
Ethereum’s hash rate has dropped about 20% from its May high, while Bitcoin’s hash rate has dropped more than 50%. Now there are two scenarios for why this is happening, and whichever is true, he’s crazy for Bitcoin versus Ethereum. Scenario number one, Ethereum mining is more globally distributed than Bitcoin… Or second, Ethereum mining is not impacted like Bitcoin in China… Whatever the case, whatever is going on with Ether mining in China right now, things are better for Ethereum looks.
Tyler Swope: Things look much better for Ethereum in terms of protocol upgrades too
Cryptocoin. com, Tyler Swope says that planned Ethereum protocol upgrades such as the London hard fork are also working in favor of Ethereum. The hard fork will prepare the cryptocurrency for the transition from a proof-of-work to a proof-of-stake consensus mechanism.
According to Tyler Swope, other factors helping Ethereum include the change to Ethereum’s fee market mechanism and scalability upgrades through the Ethereum Improvement Proposal (EIP) 1559 update. Tyler Swope adds the following to his comments on the subject:
In terms of protocol upgrades, things look much better for the leading altcoin Ethereum. Ethereum London is scheduled to drop on the final testnet on July 7. This is all to be planned, it means the end of July or the beginning of August for the launch of EIP 1559… This core protocol upgrade is getting the markets excited. But that’s not the only upgrade coming. There are upgrades to scalability as well as how Ether is staked.