BlockBeats message, April 8, former top executive at Goldman Sachs, author of the book Global Macro Investors, and co-founder and CEO of Real Vision Raoul Pal said in a social media post, “The ETH/BTC ratio is now getting very interesting, and it aligns with the trend of the business cycle (ISM rising) and rising liquidity. From the long-term chart perspective, the outlook is still very constructive. Since 2017, ETH relative to BTC has broadly held its value; if this chart continues to develop along the current trend, ETH should outperform BTC over time.
Intuitively, this is also reasonable: as a smart contract platform, ETH’s addressable market size (TAM) differs in an essential way from BTC’s ‘store of value’ attribute. BTC mainly carries the total savings value, while ETH can carry the value of economic activity itself. Because of this difference, over time the dominance of smart contracts relative to BTC will continue to rise.”
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