Bloomberg Intelligence’s Senior Commodity Strategist, Mike McGlone, has weighed in on the debate about the possibility of Ethereum (ETH) flippening Bitcoin (BTC) as the world’s largest cryptocurrency.
His point was drawn on the major achievements attained in the Ethereum blockchain thus far this year and the upcoming chain merger.
According to McGlone, if Bitcoin were to catch up with Ethereum’s achievements this year, its price target will tend toward $100,000.
“Ethereum in 2021 Is Bitcoin Guidance for $100,000: Flippening? If #Bitcoin were to catch up to #Ethereum’s performance this year, the No. 1 crypto’s price would approach $100,000. Though we see Bitcoin on that path, there appears little can stop the process of Ethereum flippening,” he said via his official Twitter account.
Ethereum is an open-source blockchain network through which decentralised applications and smart contracts are built. The broad adoption of the blockchain for the development of various…