Tuur Demester stated that he expects a rise in Ethereum.
Tuur Demester, one of the leading Bitcoin advocates and investors, seems to have changed his mind about Ethereum, the second largest cryptocurrency, based on the total market value he frequently criticizes.
Demester admitted in a recent study after criticizing Ethereum for 5 years that the ETH / BTC trading pair is on the rise. Indicating that Ethereum still has problematic foundations, Demester said, however, that the famous cryptocurrency analyst agreed with Peter Brandt’s statement about the rise of Ethereum.
— Tuur Demeester (@TuurDemeester) July 8, 2020
ETH May Leave Bitcoin Rise Behind
Peter Brandt stated that the ETH / BTC trading pair is catching an important breakout and could soon break a record. Demester once again emphasized that Ethereum has infrastructural problems and stated that Ethereum may exceed Bitcoin’s price increase in the short term.
DeFi projects are known to be the main reason for this rise of Ethereum. In addition, the ETH 2.0 update, which is expected to take place at the end of the year, brought an increase in price. In a new statement, it is stated that the first step for ETH 2.0 will extend to 2021 and may overshadow the price increase.