Will Ethereum Flip Bitcoin Next Year In Market Cap?

This is tough because right now I can’t decide if Ethereum’s upgrade that allows a deflationary mechanism of the base fee is a wise idea. This is supposed to reduce the supply of Ethereum and we know that the market capitalization of a coin is calculated using the Supply and the market price. But with the deflationary act, we don’t know how many ETH will get burnt before then.

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More than 500,000 ETH has been burnt since the EIP-1559 that’s approximated to be worth $1.7 Billion dollars in ETH. I really don’t know if the supply of ETH is unlimited but according to coin market cap, ETH circulating supply is 118,073,938 with no data for the Max data. The current market cap is at $495 Billion.source

Now looking at Bitcoin, the market cap is $1.19 Trillion, ETH needs to 3X before it can get to Bitcoin’s price. What is the probability that bitcoin will get to $200k by next year. Lots of people have given their speculations and feel that the price can get to $200k by next year. While some feel that Bitcoin’s volatility might reduce if it gets to $100k. Do you think that it’s easier for ETH to 10X than for BTC to 3X.

There is also another probability towards why ETH can never flip bitcoin, because of the Bitcoin ETF. If we get an ETH ETF, just May be there might be a possible reason to consider ETH flipping bitcoin, because the adoption will be wider.

The ETH gas fee gives a reasonable doubt to why ETH might never flip Bitcoin.

The high gas fee is due to the fact that when doing any transaction you have to pay base fee and also tip the miners. This base fee gets burnt and taken out of circulation.

Lots of people will consider using other alternatives like SOLANA, ADA, BNB etc than use ETH. So this might reduce ETH adoption and before you know it, ETH gets flipped by one of these coins. Making the chances of ETH flipping BTC far lower than before.

Ethereum’s versatility is the reason some people are considering it. Because of its Defi and NFT blockchain adoption, but Bitcoin’s only use is just a store of value. So Ethereum’s utility gives it a better chance of flipping bitcoin.

These are just random thoughts, just like no one can predict the future, this is just mere speculation. Tell me what you feel in the comment section.

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