Ethereum

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-will-outperform-ethereum-despite-spot-etf-expectations-16/" data-wpel-link="internal">Analyst Predicts Bitcoin Will Outperform Ethereum Despite Spot ETF Expectations</a><br></p>
<p>While expectations for a spot <a href="https://en.coin-turk.com/the-future-of-ethereum-analysts-divided-on-its-potential/" 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 the 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 may continue to outperform ETH.</p> 
<blockquote> 
 <p>Ultimately, I don’t think a spot ETF for ETH will prevent the ETH/Bitcoin valuation from remaining relatively low… For 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… Theoretically, we have these narratives about the deflationary mechanism that supposedly causes the Ethereum/Bitcoin valuation to ‘hold up well’ due to the transition from proof of work to proof of stake, and this did not happen. This also 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, the ETH/BTC price pair was trading at 0.05416 BTC (3,112 dollars).</p> 
<p style="text-align: justify">On the other hand, the analyst, who also examined dominance, stated that when stablecoins are excluded, the Bitcoin dominance (BTC.D) chart, considering the similar situations seen in both 2016 and 2020, could decline in the near term but might see a recovery in the fourth quarter.</p> 
<blockquote> 
 <p>There is a situation where the potential pullbacks could happen in the next month or longer… In the fourth quarter of the halving years, we saw dominance increase both times.</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 attract attention. Nevertheless, 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-predicts-bitcoin-will-outperform-ethereum-despite-spot-etf-expectations-16/" data-wpel-link="internal">Analyst Predicts Bitcoin Will Outperform Ethereum Despite Spot ETF Expectations</a></h5>

Analyst Predicts Bitcoin Will Outperform Ethereum Despite Spot ETF Expectations

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Інші статті, опубліковані 12 лип. 2024 р.

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