According to Morgan Bennett, a cryptocurrency analyst and influencer, Ethereum could surpass Bitcoin in market cap in the next 2-3 years.
In a post on Twitter, Bennett shared four scenarios of how flippening, the term used to describe Ethereum's overtaking Bitcoin in market cap, could happen.
Basing his analysis on the long-term trends of both cryptocurrencies, Benett stated that he is not a fan of technical analysis, but it is difficult to argue against it.
The first scenario is flippening where Ethereum slowly catches up with Bitcoin and surpasses it around Christmas 2025.
Bennett said that there will be high volatility for a short time, but the market will adapt to this and the trend can continue smoothly after 2026.
The second scenario is that the rise of Ethereum is making Bitcoin holders increasingly nervous and weakening the utility Bitcoin offers as a Schelling point asset. According to the analyst, this could lead to a collapse in the price of Bitcoin and a rise in Ethereum.
Schelling point asset is a term used to describe a cryptocurrency that people tend to default to in the absence of communication or net valuation metrics.
Not a fan of technical analysis but it's hard to argue against long-term trends.
If the trend continues, $ETH will flip $BTC within the next 2-3 years. pic.twitter.com/CSFtnjwgnF
— Mo (@MorganTBennett) June 2, 2023
The third scenario is a struggle for survival, where Ethereum and Bitcoin repeatedly overtake each other over the course of several months or years. Bennett said this will result in high trading volumes, high volatility and a lot of interest from the outside world. He added that the overall crypto market could benefit from this event.
The fourth scenario could be a demise of the crypto market, where Ethereum replaces Bitcoin but loses its appeal as digital gold. Bennett said that this will cause a permanent loss of trust in the crypto space.
*Not investment advice.
