The co-chairman of Galaxy Digital Trading, Jason Urban, who predicts that the leading altcoin Ethereum will reach $ 6,000 and Bitcoin to $ 100,000 by the end of this year, says that Ethereum can overtake Bitcoin in the next 3 years.
“Leading altcoin could be leading crypto in 3 years”
Jason Urban shared his outlook on Ethereum and Bitcoin prices along with institutional adoption of cryptocurrencies at the Bitcoin 2022 Conference in Miami. Galaxy Digital Trading is a technology-driven financial services firm that provides solutions across the digital asset platform.
Jason Urban highlights how the Federal Reserve plans to fight inflation and the Russia-Ukraine war are the factors that affect crypto prices the most. “Bitcoin is seen as a hedging tool against inflation,” said the famous manager, stating that anything done to reduce inflation will be a headwind for Bitcoin. According to Jason Urban, looking at the space as a whole, he says that there is a lot of money chasing returns to crypto, and it really acts as leverage.
The famous administrator, “The biggest overarching factor affecting crypto is two-way. These are inflation for Bitcoin and the investment thesis inside the rest of the ecosystem,” he says. Currently, Bitcoin is number one and leading altcoin Ethereum is number two for crypto market cap. However, Jason Urban believes it’s possible for Ethereum to overtake Bitcoin in two or three years, saying:
This could probably be the earliest, or something else we haven’t discovered yet that could be the next big thing. As innovation progressed, you could see some of this change. Bitcoin is less likely to be replaced by something else because it is ingrained in its location.
As we have mentioned in the news of Kriptokoin.com, Bitcoin was expected to be a measure against inflation, but recently this did not happen and while inflation increased, BTC declined. “We saw Bitcoin being used as a bit of a hedge at the end of last year, we saw an overlay inflation and Bitcoin chart here,” said Jason Urban, noting the following:
There is a bit of a disconnect at the moment, but institutional investors and This is how macro investors look at Bitcoin. I think investors should take a longer view that Bitcoin is a hedge against inflation, not a short-term one.
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