Ethereum

Bitcoin

Spot

<p>Ethereum (ETH) has delivered a strong performance quite in tune with the Bitcoin performance. However, it has <a href="https://coingape.com/markets/ethereum-price-prediction-as-bear-trap-points-to-10-surge/" target="_blank" rel="noopener noreferrer nofollow">underperformed</a> other Layer-1 competitors such as Solana, Polkadot, and Chainlink. This has led to a new debate about whether Ethereum is dead and what future it holds.</p>
<h3 id="ethereum-s-prominence-won-t-diminish">Ethereum’s Prominence Won’t Diminish</h3>
<p>Crypto analyst Michael van de Poppe suggests that Ethereum’s prominence will not diminish but rather strengthen for several reasons:</p>
<ol>
 <li>Ethereum’s transition from PoW to PoS has garnered attention, and its true impacts are yet to be fully realized. The coming year is expected to reveal the fundamental growth of the ecosystem, making Ethereum potentially deflationary and a more enticing investment than Bitcoin.</li>
 <li>Similar to Bitcoin, Ethereum is in the process of having a Spot ETF application, which, upon approval, could be more significant. This development opens doors for decentralized applications (dApps) built on Ethereum to be included in ETFs, potentially increasing its appeal.</li>
 <li>Van de Poppe highlights the money flow cycle, noting that Bitcoin usually takes the spotlight before halving. In this cycle, the approval of Bitcoin ETFs is expected to generate positive momentum. As money flows through market capitalizations, Ethereum is likely to be the next beneficiary.</li>
</ol>
<h3 id="q1-is-always-great-for-eth">Q1 Is Always Great for ETH</h3>
<p>Crypto analyst Michale van de Poppe says that in recent weeks, Ethereum has faced negative sentiment, experiencing underperformance compared to Bitcoin. This is considered organic and natural price action, given the prevailing focus on Bitcoin before the ETF approval. Ethereum is anticipated to follow a similar pattern, and this carries various implications and reasons, particularly with the absence of distinct price action at the moment.</p>
<p>Poppe also shares a chart showing that historically, ETH has always <a href="https://coingape.com/ethereum-eth-price-gearing-up-for-20-rally-amid-strong-exchange-outflows/" target="_blank" rel="noopener noreferrer nofollow">outperformed</a> Bitcoin during the first quarter of the year.</p>
<figure id="attachment_170893" aria-describedby="caption-attachment-170893" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-170893" src="https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance.jpeg" alt="" width="3411" height="1819" srcset="https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance.jpeg 3411w, https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance-300x160.jpeg 300w, https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance-1224x653.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance-768x410.jpeg 768w, https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance-1536x819.jpeg 1536w, https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance-2048x1092.jpeg 2048w, https://coingape.com/wp-content/uploads/2023/12/Ethereum-Q1-performance-150x80.jpeg 150w" sizes="(max-width: 3411px) 100vw, 3411px">
 <figcaption id="caption-attachment-170893" class="wp-caption-text">
  Courtesy: <a href="https://twitter.com/CryptoMichNL/status/1738232316546142261" target="_blank" rel="noopener noreferrer nofollow">Michael van de Poppe</a>
 </figcaption>
</figure>
<p>Michael van de Poppe anticipates a Bitcoin price range of $48,000 to $51,000 to be achieved before the awaited ETF approval. His forecast also includes a peak in Bitcoin’s performance in January, prompting a swift movement of funds towards altcoins. According to Poppe, the Bitcoin dominance is likely reaching its pinnacle before the Bitcoin halving. Consequently, he suggests that the first quarter of the year will present favorable returns for investments in the Ethereum (ETH) ecosystem.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> dominance is likely peaking pre-Bitcoin halving.</p>
 <p>That means that Q1 is going to give a great return for investments in the <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ecosystem.</p>
 <p>I'm positioned and ready. <a href="https://t.co/Iqlxkojz4w" rel="noopener noreferrer nofollow">pic.twitter.com/Iqlxkojz4w</a></p>
 <p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1738190151900164462?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 22, 2023</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The post <a href="https://coingape.com/ethereum-aint-dead-heres-why-ethereum-can-outperform-bitcoin-in-q1-2024/" rel="noopener noreferrer nofollow">Ethereum Ain’t Dead: Here’s Why Ethereum Can Outperform Bitcoin in Q1 2024</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Ethereum Ain’t Dead: Here’s Why Ethereum Can Outperform Bitcoin in Q1 2024

Table of Contents

Coingape News Media

Other articles published on Dec 23, 2023

BFIC Surges Over 35% in 2 Days Following Exchange Listing Announcements; Price Could Still Double

“Ethereum is Going to Follow Suit”: Why This Crypto Trader Remains Bullish on ETH

XRP Whale Moves Spark Speculation Amidst Price Dip: Report

IoTeX, Bitcoin and Solana surge as Pullix emerges as a unique hybrid DeFi exchange

BlackRock to Kickstart Bitcoin ETF with $10 Million Investment on January 3, 2024

Firms Rush to Update for Launching Spot Bitcoin ETFs!

Join our free newsletter for daily crypto updates!