By Michael Scott
Experienced market analysts predict that altcoins, including Ethereum, Solana, and XRP, will dominate over Bitcoin following Donald Trump’s Win.
Prominent market analyst Alex Kruger disclosed during the Bits and Bips podcast that likely breakout price for altcoins if Grand Old Party (GOP) candidate Trump triumphs over Kamala Harris. The analyst is optimistic that Ethereum and Solana are altcoins that will outperform Bitcoin when Trump wins the US presidency.
The economist observed during the podcast that the Trump Trade extends beyond Bitcoin to feature altcoins. The analyst considers Sol and ETH unmatched by Bitcoin when the Republicans scoop the throne in the November election.
Will Sol and ETH Blossom Under the Trump Administration?
The analyst echoes the widespread consensus that the crypto industry would prosper under Trump, not Kamala Harris. The prediction aligns with the project by brokerage firm Bernstein that BTC would change hands at $90K if the pro-crypto Trump wins. In contrast, the firm considered Bitcoin to plunge to $30K if Harris emerged triumphant.
With Trump’s victory, Kruger is optimistic that the altcoins will outdo the BTC strides. He highlights betting on Sol and ETH over the leading crypto asset by market value.
A comparative scrutiny of the altcoins shows contrasting scenarios for Bitcoin and Solana. In particular, while BTC staged a short-lived push to $69K, the ETH/BTC pair plunged to the 42-month low at 0.0377.
Bitcoin has witnessed increased dominance as crypto has risen by 5.1% in the past month. Contextually, Ether performed conversely as it depreciated 4.6% in the same period. Nonetheless, Solana’s performance mirrors Kruger’s argument that the fifth-largest crypto is outgrowing Bitcoin. Mainly, SOL outperformed BTC’s three-folds to charge hands above $170.
Kruger’s bullish outlook for altcoins echoes the pronouncement of digital asset researcher Geoff Kendrick. The Standard Chartered executive shares a correlated assertion with Kruger in predicting Sol, and ETH would outgrow BTC if the GOP candidate wins.
Kendrick speculates a fivefold rally in SOL, closely trailed by ETH with a fourfold uptick. The analyst considers that BTC’s upward trajectory would calm at twofold returns. Beyond Trump emerging victorious, the analyst bets on approval of Solana spot exchange-traded funds (ETFs), thereby catalyzing SOL to a fivefold uptrend leap.
Will Solana Flip Ethereum’s Market Value?
Kruger joined the call and said that Solana has the potential to flip the second-ranked crypto in the future. In an earlier Bits and Bips podcast episode, the analysts made a long-term bullish prediction on the SOL/ETH pair.
The market expert considers Solana fully equipped to overtake Ethereum. The pick for Solana by Kruger was mirrored by the multi-billion-dollar asset management firm VanEck in the previous month, which considers Solana superior to Ethereum Killer and is bound to meet half the ETH market cap.
Placing VanEck prediction into context indicates that for Solana to match half of ETH’s market cap of $151B, it necessitates a nearly 75% uptick from the present $86B. The surge will lift Solana’s price to the $300 price level.
Can XRP Outshine Bitcoin?
Market analyst Mickle cites commentary by Arbitrum developer Matt Hamilton that XRP will outshine BTC. The ratter who previously served in the Ripple developer role considers XRP a competitive edge over BTC.
Hamilton outlined XRP’s superiority relative to Bitcoin regarding scalability, energy efficiency, and real-life transaction application. While acknowledging BTC’s essence as the pioneer crypto, it harbors the foundational principles captured in Satoshi Nakamoto’s whitepaper to deliver a decentralized financial (DeFi) system.
Nonetheless, Hamilton points out several Bitcoin limitations, including slowed transaction speed and high energy usage in mining. Such issues hinder BTC’s ability to scale as the globe demands an efficient and faster financial system.
Hamilton considers XRP designed to address scalability issues and the need for cheaper and quicker transactions. The developer finds XRP as an outcome of the input of early BTC creators, hence being inspired to overcome challenges confronted by Bitcoin.
Hamiltfon considers the XRP ledge unmatched in efficiency and capacity to execute transactions in several seconds. Besides, it handles larger volumes at lower costs and is thus suited for mass utilization globally.
Hamilton observes that XRP’s broader utilization is evident in decentralized trading and recently tokenizing real-world assets. As such, the network realized a cumulative inflow of $1B in tokenized equity.