Main navigation

Ethereum (ETH) Might Lead New Rally, Start Expected in Q1, 2023: Opinion

Mon, 01/09/2023 - 15:31
article image
Vladislav Sopov
Mining veteran Jiang Zhuoer explains when next bullish rally might start — and why Bitcoin (BTC) can lag behind Ethereum (ETH) in 2023
Ethereum (ETH) Might Lead New Rally, Start Expected in Q1, 2023: Opinion
Cover image via
Read U.TODAY on
Google News

Prominent Bitcoin (BTC) mining entrepreneur Jiang Zhuoer, CEO of BTC.TOP and B.TOP mining firms, shared his forecast on the first phase of the next bullish rally in crypto. While the run might start in a few months, its scenario might be different to what we witnessed in previous cycles.

Optimistic and pessimistic forecasts by industry veteran

Mr. Jiang Zhuoer took to Twitter to share his estimations of the prospects of Bitcoin (BTC) and Ethereum (ETH) in the next bullish rally. He attempts to compare the ongoing cycle with those of 2014 and 2018. As such, he publishes two scenarios for cryptocurrency bulls, an optimistic and a pessimistic one.

If the November 2022 decline triggered by the FTX drama was the ultimate bottom of this cycle, the four-year period remains valid for every major cycle in crypto. As such, the potential collapse of Digital Currency Group, which is being widely discussed in the media, is already priced in and will not affect the price significantly.

Then, while the new upsurge is almost imminent, the market can follow one of two scenarios. If the optimistic one plays out, the rally might start two months after the last phase of "sideways" moves.

The pessimistic scenario, meanwhile, opens the road to an eight-month painful "sideways" period. Thus, cryptocurrency capitalization might start its new rally in early Q4, 2023.

First Ethereum (ETH), then Bitcoin (BTC)

Also, Mr. Jiang Zhuoer is fascinated by the prospects of Ethereum (ETH) compared with Bitcoin (BTC). As this is the first time, Ethereum (ETH) meets with EIP-1559 activated and on a proof-of-stake (PoS) consensus, Ethereum (ETH) is exposed to trivial inflation:

More specifically, looking at the data of Ethereum (ETH), the inflation rate was 3.59% when ETH was in Proof-of-Work (POW). Bitcoin's inflation rate is 1.72%. Even after the bear market, with the inactive coin burning, the ETH inflation rate is as low as 0.01%.

Besides that, Ethereum's (ETH) price decline during this bearish cycle is only 80% of that of the largest cryptocurrency, which is yet another indicator of Ether's maturity as an asset.

As such, Ethereum (ETH) will start rising earlier than Bitcoin (BTC); the first spike can be expected between March and May 2023, Mr. Jiang Zhuoer says.

Bitcoin Mining Veteran Jiang Zhuoer: Permanent Bulls Don't Have the Most Basic Common Sense

As covered by U.Today previously, in March, 2022, Mr. Jiang Zhuoer criticised "permanent bulls" for their lack of common sense.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)