By Alicia Maher
The success of Bitcoin is being rivalled as recent suggestions and opinions indicate the possibility of Ethereum faring better than it in performance on trading platforms. Ki-Young Ju, the CEO of CryptoQuant, thinks that the reality of outperformance of BTC by ETH is imminent in the long run. It is also speculated that ETH has the potential of reaching its all-time highest quicker than Bitcoin. By so doing, it would set a new record for itself, raising its standard when compared with Bitcoin. This conclusion stems from the recent performance of the coin in the currency market. Current market reports have seen the ETH perform satisfactorily with an ever-growing market price.
Judging by analysis, Ethereum is presently experiencing a supply shock which in turn has contributed to the slowing down of outflows from BTC’s exchange. What this implies is that the sentiments of a bullish run have been reduced, this having an impact on the token’s price. While the price of BTC dwindles, the market rate for ETH is steadily approaching its highest for all time. For investors in the crypto world, this development comes with certain prospects.
The increasing amount of the token being staked is also a pointer to its soaring price. These numerous stakings infer the need for an upward change of price which in turn reflects on the market rate. With a continuous performance similar to this, Ethereum would in no time beat Bitcoin to the first place on the market list. This bullish trend is also expected to continue all through 2021 and would in certain ways affect the outlook of BTC. Several reasons contribute to the upsurge currently being experienced by Ethereum.
It supports the smooth running of smart contracts and this sole reason has contributed greatly to the high demand of the blockchain by investors and developers making it a reliable financial utility. More responsible for the rising trend is the introduction of ETH 2.0 which has further participated in presenting the platform as credible, secure and sustainable. Most crypto users however are confident and hopeful in the rise of Bitcoin with coin experts predicting an upward movement to about sixty-five thousand dollars. When placed side by side, ETH looks more prospective and convincing owing to its rapid rise and value increase.
Bitcoin: the upward climb and recovery
After a lingering bearish fall in the first quarter of the year, BTC is gradually gaining its place once again as a high pricing cryptocurrency. The market price of this token is currently over fifty thousand dollars, a huge fall from its previous performances. Prediction of the changes the token would experience is difficult due to its volatile nature, thus creating uncertainty as to how far they might rise or fall. Experts are however optimistic about the meeting of the several high expectations of the crypto market. It is expected to rise to about $60,000 by the end of the year, a very positive occurrence to look forward to.