[Analysis] "Ethereum (ETH) Expected to Outperform Bitcoin Next Year... Projected to Reach $8,000"

Ethereum (ETH), which has shown relative weakness this year, is expected to outperform Bitcoin (BTC) next year, according to analysis.

On the 31st, cryptocurrency media outlet CoinDesk reported that Steno Research, in its research report, stated, "Ethereum is likely to perform better than Bitcoin next year," and projected that "Ethereum will more than double, rising from $3,400 to $8,000." Meanwhile, the report predicted that Bitcoin would rise from $94,000 to $150,000 next year.

The report added, "The relative value of Ethereum compared to Bitcoin (ETH/BTC) will rise from 0.0357 to 0.06," noting that "this will be similar to the price movements seen in previous cycles." As of 20:12 on the same day, ETH/BTC was at 0.03603 on Binance.

Cryptocurrency analyst Maz Eberhardt stated, "The victory of President-elect Trump will be more favorable to altcoins than Bitcoin," predicting that "Bitcoin dominance (the percentage of the total cryptocurrency market cap that Bitcoin occupies) will fall from the current 56.6% to 45%." This suggests that funds concentrated in Bitcoin may be dispersed into altcoins, potentially leading to an altcoin rally.

The report forecasts that "next year will see an unprecedented scale of institutional investor adoption of cryptocurrencies."