Ethereum

Cryptocurrency

Bitcoin ETF

Bitcoin

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 <p class="paragraph">One of the most controversial <a rel="noopener noreferrer nofollow" title="expect" href="https://thebittimes.com/tag/expect.html">expect</a>ations in the cryptocurrency market is known as “the <a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a>.” The <a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a> is the forecast of Ethereum (ETH) surpassing Bitcoin (BTC) in market capitalization, which is both praised and criticized.</p>
 <p class="paragraph">Interestingly, QCP Capital foresees Ethereum outperforming Bitcoin in price appreciation in 2024, according to a January 17 market update. The trading firm specializing in digital assets and cryptocurrencies shared the report on a Telegram group with 11,000 subscribers.</p>
 <p class="paragraph">Despite not mentioning a ‘flippening,’ QCP Capital mentioned the positive results of a previous report on ETH paired against BTC. Moreover, the trading firm forecasts Ethereum to continue outperforming the leading cryptocurrency due to ETH spot ETF expectations.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“When ETHBTC traded below 0.05, we mentioned that the cross looked attractive from both a technical perspective and with ETH as a catchup play. ETHBTC has since traded higher to 0.06. We <a rel="noopener noreferrer nofollow" title="expect" href="https://thebittimes.com/tag/expect.html">expect</a> ETH to continue outperforming BTC over the medium term as the narrative rotates to potential ETH Spot ETF approvals.”</p> <cite><em>— QCP Capital Broadcast</em></cite>
 </blockquote>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="728" src="https://cdn.thebittimes.com/images/2024/01/18/ee6cca5ba73c88da83967241dfdd3538.webp" alt class="wp-image-149743" srcset="https://cdn.thebittimes.com/images/2024/01/18/ee6cca5ba73c88da83967241dfdd3538.webp 1024w, https://cdn.thebittimes.com/images/2024/01/18/ee6cca5ba73c88da83967241dfdd3538.webp 300w, https://cdn.thebittimes.com/images/2024/01/18/ee6cca5ba73c88da83967241dfdd3538.webp 768w, https://cdn.thebittimes.com/images/2024/01/18/ee6cca5ba73c88da83967241dfdd3538.webp 1536w, https://cdn.thebittimes.com/images/2024/01/18/ee6cca5ba73c88da83967241dfdd3538.webp 1786w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   QCP Market update – 17 Jan 24. Source: <em>CQP Capital Broadcast</em>
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 <h2 class="wp-block-heading" id="h-could-an-ethereum-spot-etf-approval-cause-the-flippening">Could an Ethereum spot ETF approval cause the flippening?</h2>
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 <p class="paragraph">The narrative started boiling after an interview with Larry Fink, CEO of BlackRock Inc. (NYSE: BLK), on <em>CNBC</em>. In particular, Fink explained that BlackRock sees value in tokenization and believes the SEC will approve an Ethereum spot ETF.</p>
 <p class="paragraph">Notably, Bitcoin has surged by nearly 150% since January 2, 2023, until its current price of $42,418. Rumors and <a rel="noopener noreferrer nofollow" title="expect" href="https://thebittimes.com/tag/expect.html">expect</a>ations on a Bitcoin spot ETF approval gained traction during this period while the market was pricing it.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/01/18/86311c5bedf1dd58b19c0f786df88547.webp" alt class="wp-image-149744" srcset="https://cdn.thebittimes.com/images/2024/01/18/86311c5bedf1dd58b19c0f786df88547.webp 1024w, https://cdn.thebittimes.com/images/2024/01/18/86311c5bedf1dd58b19c0f786df88547.webp 300w, https://cdn.thebittimes.com/images/2024/01/18/86311c5bedf1dd58b19c0f786df88547.webp 768w, https://cdn.thebittimes.com/images/2024/01/18/86311c5bedf1dd58b19c0f786df88547.webp 1536w, https://cdn.thebittimes.com/images/2024/01/18/86311c5bedf1dd58b19c0f786df88547.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC/USD weekly price chart. Source: <em>TradingView</em>
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 </figure>
 <p class="paragraph">A similar price action on Ethereum would put the leading Web3, and dominating DeFi blockchain, at above $6,235. This would drive ETH capitalization to around $750 billion, still nearly $100 billion lower than Bitcoin’s current market cap. Therefore, would not be enough for a ‘<a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a>,’ even if BTC kept its $830 billion value by press time.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/01/18/0bba012c06c599baf435919bd57ccfc0.webp" alt class="wp-image-149745" srcset="https://cdn.thebittimes.com/images/2024/01/18/0bba012c06c599baf435919bd57ccfc0.webp 1024w, https://cdn.thebittimes.com/images/2024/01/18/0bba012c06c599baf435919bd57ccfc0.webp 300w, https://cdn.thebittimes.com/images/2024/01/18/0bba012c06c599baf435919bd57ccfc0.webp 768w, https://cdn.thebittimes.com/images/2024/01/18/0bba012c06c599baf435919bd57ccfc0.webp 1536w, https://cdn.thebittimes.com/images/2024/01/18/0bba012c06c599baf435919bd57ccfc0.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ETH/USD weekly price chart. Source: <em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">Nevertheless, QCP Capital is still optimistic about a medium-term outperformance for the second-largest cryptocurrency over the largest one. According to the trading firm <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, ETH could offer a better risk-reward for 2024’s investors.</p>
 <p class="paragraph">Still, investing in this market is unpredictable, and having caution is crucial while deploying capital for price speculation.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-flippening-trading-firm-expects-eth-to-outperform-bitcoin-tbt76888.html">https://thebittimes.com/ethereum-flippening-trading-firm-expects-eth-to-outperform-bitcoin-tbt76888.html</a></p>

Ethereum flippening: Trading firm expects ETH to outperform Bitcoin

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