Ethereum

Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-discusses-ethereum-and-bitcoin-performance-in-the-crypto-market/" data-wpel-link="internal">Analyst Discusses Ethereum and Bitcoin Performance in the Crypto Market</a><br></p>
<p>While expectations for a spot <a href="https://en.coin-turk.com/ethereum-faces-potential-liquidation-risks-and-etf-challenges/" data-wpel-link="internal">Ethereum</a> ETF persist in the crypto world, a renowned analyst made significant statements about the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a>. According to the analyst, even if a spot ETH exchange-traded fund (ETF) starts trading in the coming days, Bitcoin (BTC) may continue to outperform Ethereum (ETH).</p> 
<h2 id="what-is-the-current-price-of-ethereum">What is the Current Price of Ethereum?</h2> 
<p style="text-align: justify">Crypto strategist Benjamin Cowen once again shared his views on YouTube. The analyst, who examined Ethereum, stated that its performance against BTC is exaggerated and commented that BTC might continue to outperform ETH.</p> 
<blockquote> 
 <p>Ultimately, I don’t think a spot ETF for ETH will prevent the ETH/Bitcoin valuation from staying relatively low… Over the past few years, there has been a lot of narrative about why the ETH/Bitcoin valuation would never even drop to current levels… In 2022, when ETH/Bitcoin was at 0.08 BTC, if you had told them it would drop to the mid-0.04s by 2024, they would have laughed at you… We have these narratives about the deflationary mechanism theoretically causing the Ethereum/Bitcoin valuation to ‘hold up well’ due to the transition from proof of work to proof of stake, and this hasn’t happened. This gives us the idea that maybe this is more about monetary policy than anything else.</p> 
</blockquote> 
<p style="text-align: justify">As of the time of writing, when examining the ETH/BTC price pair, the price was found to be 0.05416 BTC (3,112 dollars).</p> 
<p style="text-align: justify">On the other hand, the analyst, who also examined dominance, stated that if stablecoins are excluded, the Bitcoin dominance (BTC.D) chart, considering similar situations seen in both 2016 and 2020, could decline in the near term but might recover in the fourth quarter.</p> 
<blockquote> 
 <p>There is a situation where the pullbacks that may occur are likely to be in the next month or longer… In the 4th quarter of the years of halving, we saw dominance increase on both occasions.</p> 
</blockquote> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-370241" src="https://coin-turk.com/wp-content/uploads/2024/07/ethereum-btc-coin-turk-com.png" alt="" width="915" height="401"></p> 
<h2 id="what-is-the-current-price-of-bitcoin">What is the Current Price of Bitcoin?</h2> 
<p>While expectations for a spot Ethereum ETF persist in the market, volatile price movements continue to draw attention. Despite this, BTC seemed to gain a neutral outlook on Friday evening.</p> 
<p><strong>BTC</strong> price continues to find buyers at 58,185 dollars after a 1% increase in the last 24 hours. Additionally, the market volume stands at 1.147 trillion dollars. The 24-hour trading volume decreased by 12% and is at 24.7 billion dollars.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-discusses-ethereum-and-bitcoin-performance-in-the-crypto-market/" data-wpel-link="internal">Analyst Discusses Ethereum and Bitcoin Performance in the Crypto Market</a></h5>

Analyst Discusses Ethereum and Bitcoin Performance in the Crypto Market

Daftar Isi

COINTURK NEWS

Artikel lain yang dipublikasikan pada 12 Jul 2024

Best DeFi Airdrops 2024

XRP Price Shows Increased Strength: Can It Sustain The Recovery?

BlockDAG Secures Unmatched Trust with the X1 Miner App on AppStore, Raises $57.4M Presale; Expert...

Altcoins to Sell Hot on the heels of Dwindling Stablecoins Volume

SEC’s Secret Bank Exemptions for Crypto Custody: Favoritism or Risk Management?

Cosmos and Sei Investors Pivot to MoonBag, The Top Meme Coin Presale of 2024

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!