• Latest
This Is why one analyst Claims Bitcoin will outperform Ethereum in the short term

This Is why one analyst Claims Bitcoin will outperform Ethereum in the short term

June 17, 2021
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Bitcoin

This Is why one analyst Claims Bitcoin will outperform Ethereum in the short term

coinnewsdaily by coinnewsdaily
June 17, 2021
in Bitcoin, Ethereum
0
This Is why one analyst Claims Bitcoin will outperform Ethereum in the short term
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Concerning price potential, Bitcoin (BTC) is staring in the possibility of outperforming Ether (ETH) in the short term.

So considers David Lifshitz, the chief investment officer in ExoAlpha, a Paris-based investment management service, who noted Bitcoin’s upside potential from the near-term is greater than that of Ethereum. He said after spotting a current shift in the BTC/ETH ratio.

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022

In detail, BTC/ETH contrasts the trend of Bitcoin and Ether. A lower reading suggests that the Bitcoin price is rising slower than Ethereum’s. Conversely, a greater BTC/ETH ratio suggests the Bitcoin price momentum is gaining an advantage over Ethereum.

Naturally, Ethereum appeared like a heightened version of Bitcoin. After the BTC/USD exchange rate jeopardized, the ETH/USD exchange rate rallied but with greater margins. Likewise, when BTC/USD went down, ETH/USD dropped more.

analyst
Bitcoin vs. ETH price comparison on same proportion scale. Source: TradingView.com

The difference in price momentum sent the BTC/ETH ratio decreasing inside a descending channel range. In doing so, the ratio offered traders a means to judge which volatility — Bitcoin or Ether — would return superior gains concerning short-term relative strength momentum. Lifshitz weighed:

At the present level, the ratio suggests the BTC is underpriced vs. ETH, therefore an astute trader may buy Bitcoin and sell Ethereum in precisely the same dollar proportions, betting on the potential upcoming bounce of this ratio from the reduced channel bound toward the upper channel bound, then revert later when the ratio gets shut again to the upper bound.

Ratio flattening after Musk-led crash

The comparison between Bitcoin and Ether price momentums arrived as the Federal Reserve officials announced Wednesday they expect to begin raising interest rates in 2023, earlier than the previous forecast of 2024.

Bitcoin and Ethereum’s first response to the Fed news was adverse. The BTC/USD exchange rate closed the day 4.51% reduced, while ETH/USD went by 6.91%. In comparison, on May 19, after Elon Musk established a tweet war against Bitcoin, BTC/USD had fallen 14.29% and ETH/USD by 27.61%.

The readings pointed the difference between Bitcoin and ETH price momentums started flattening after the May 19 crash. Lifshitz called it as another sign that Bitcoin would be valuable than Ether.

He said:

“Over the last 3 weeks, the ratio of BTC/ETH relative prices seems flat and if we have a closer look in the last few days, the ratio is getting higher, meaning BTC tends to be valuable than ETH.”

Bitcoin
 The BTC/ETH ratio relative prices move flat upon examining the channel’s lower array

Meanwhile, Lifshitz reminded the BTC/USD ratio’s relief bounce would do little in offsetting the descending channel strain. Hence, the ratio may continue to go lower after it tests the channel’s upper selection.

The scale of Bitcoin and Ether’s next trends — if upside or downside — depends upon their idiosyncratic technical and fundamental things.

Lifshitz said Bitcoin, which stays range-stuck between $33,000 and $39,000-40,000 area, would have to break over $42,000 to affirm a short-term bearish bias. In doing so, the grade cryptocurrency could rise to $50,000, a degree coinciding with the local bottoms of April 26 and May 12.

Bitcoin/US Dollar FX Spot Rate, FX Spot Rate, COMPOSITE DISPLAY
Bitcoin volume surged after May 19 crash though BTC remained oblivious about the next price management.

But for a bullish movement to happen, the executive added that Bitcoin miners would have to exhaust their selling or be convinced that they would later sell their BTC reservations at greater prices. Meanwhile, Dip buyers and institutional investors like MicroStrategy would provide additional upside tailwinds to the 50K-price target.”And of course in the center of this conflict between bulls and bears, there’s Elon Musk tweet-factory, being one time supportive of Bitcoin, 1 time not, which shakes the price each time,” Lifshitz reminded.

As for Ethereum, Lifshitz expected the cryptocurrency to spike to $2,850 from the coming sessions. It’s the identical amount that ETH hit before popping up higher on May 3; meanwhile, in addition, it served as resistance as ETH tried to recover fully from its May 19 price bottom.

Ethereum bulls continued to grapple with a symmetrical triangle index on the reverse side and its inclination to send prices further reduced. Thus, they tend to send the prices from the direction of the previous trends.

“As the price approaches the apex of the triangle, some resolution is expected either down or up from the $2,500 level,” said Lifshitz.

Meanwhile, one huge takeaway from both Bitcoin and Ethereum charts worried their volumes. While BTC/USD reported greater trading volumes after the May 19 price crash, Ethereum’s were more or less the same.

 

Tags: BitcoinBitcoin/US Dollar FX Spot RateBTCBullishDavid LifshitzDipETHEtherEthereumForecast
Share76Tweet47
Previous Post

As Yearn.Finance’s Return vaults grow,’Harvest’ projects define boundaries

Next Post

US Fed Inactivity May Lead Bitcoin to Moon, However, a Negative Impact is Possible

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum
Alt Coin

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
Load More
Next Post
US Fed Inactivity May Lead Bitcoin to Moon, However, a Negative Impact is Possible

US Fed Inactivity May Lead Bitcoin to Moon, However, a Negative Impact is Possible

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$20,735.00-0.03%
  • ethereumEthereum(ETH)$1,195.780.95%
  • tetherTether(USDT)$1.00-0.18%
  • binancecoinBNB(BNB)$237.782.55%
  • rippleXRP(XRP)$0.344948-2.19%
  • cardanoCardano(ADA)$0.485713-1.09%
  • SolanaSolana(SOL)$38.03-1.23%
  • dogecoinDogecoin(DOGE)$0.069778-3.39%
  • polkadotPolkadot(DOT)$7.70-2.10%
  • Shiba InuShiba Inu(SHIB)$0.000011-2.36%
  • daiDai(DAI)$1.00-0.05%
  • tronTRON(TRX)$0.066654-1.92%
  • leo-tokenLEO Token(LEO)$5.74-3.38%
  • matic-networkPolygon(MATIC)$0.553.64%
  • litecoinLitecoin(LTC)$54.71-1.64%
  • FTXFTX(FTT)$26.76-0.79%
  • CronosCronos(CRO)$0.1245580.22%
  • OKBOKB(OKB)$12.23-0.06%
  • chainlinkChainlink(LINK)$6.691.61%
  • stellarStellar(XLM)$0.118435-0.27%
  • algorandAlgorand(ALGO)$0.325375-1.79%
  • cosmosCosmos Hub(ATOM)$7.67-6.13%
  • ethereum-classicEthereum Classic(ETC)$16.18-2.92%
  • moneroMonero(XMR)$120.59-3.11%
  • bitcoin-cashBitcoin Cash(BCH)$109.91-2.11%
  • vechainVeChain(VET)$0.0245480.11%
  • tezosTezos(XTZ)$1.606.41%
  • Internet ComputerInternet Computer(ICP)$5.77-0.61%
  • theta-tokenTheta Network(THETA)$1.32-1.26%
  • filecoinFilecoin(FIL)$5.75-0.51%
  • ElrondElrond(EGLD)$55.52-1.86%
  • bitcoin-cash-svBitcoin SV(BSV)$58.84-1.73%
  • eosEOS(EOS)$0.980.19%
  • AaveAave(AAVE)$65.952.98%
  • makerMaker(MKR)$992.04-0.86%
  • paxos-standardPax Dollar(USDP)$1.000.05%
  • huobi-tokenHuobi(HT)$5.28-0.09%
  • iotaIOTA(MIOTA)$0.286585-1.15%
  • zcashZcash(ZEC)$61.15-4.07%
  • neoNEO(NEO)$9.39-1.87%
  • zilliqaZilliqa(ZIL)$0.043376-2.52%
  • basic-attention-tokenBasic Attention(BAT)$0.386496-0.97%
  • wavesWaves(WAVES)$5.69-3.87%
  • havvenSynthetix Network(SNX)$2.42-5.25%
  • dashDash(DASH)$48.24-2.66%
  • PancakeSwapPancakeSwap(CAKE)$3.371.54%
  • KusamaKusama(KSM)$52.20-0.95%
  • nemNEM(XEM)$0.0421061.47%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$49.620.23%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$2.99-0.39%
  • bitcoin-goldBitcoin Gold(BTG)$16.94-1.42%
  • omisegoOMG Network(OMG)$1.96-0.20%
  • golemGolem(GLM)$0.2474770.65%
  • SushiSushi(SUSHI)$1.14-1.46%
  • ontologyOntology(ONT)$0.2452451.71%
  • yearn-financeyearn.finance(YFI)$5,968.25-4.94%
  • umaUMA(UMA)$2.71-0.72%
  • digibyteDigiByte(DGB)$0.009856-2.80%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....