3 - 5 minute read
Ethereum (ETH) is poised to outpace Bitcoin (BTC) with a sustained uptrend within the coming months. Analyst Smart Contracter, who correctly called Bitcoin’s price floor in 2018, believes that the Ethereum versus Bitcoin pair (ETH/BTC) has likely reached its 2023 low and may experience a bullish surge in value in the near future. Smart Contracter also notes that Ethereum has managed to take out a key resistance level on the weekly chart that has kept ETH bearish for almost a year. With this break, Smart Contracter thinks that Ethereum could potentially rally to its all-time high at around $4,800.
Ethereum is the second-largest cryptocurrency by market capitalization, valued at approximately $240 billion at the time of writing. Ethereum is the backbone of the decentralized finance (DeFi) movement, which allows individuals to access financial services without intermediaries. Decentralized applications, or dApps, are built on top of the Ethereum blockchain, making it a versatile and important asset in the cryptocurrency space.
Smart Contracter’s analysis of the ETH/BTC pair is notable as a bullish trend indicates that Ethereum is rising in value faster than Bitcoin. This is significant as Bitcoin has been considered the dominant cryptocurrency with respect to its market share and its ability to influence the prices of other digital assets. Smart Contracter’s prediction of Ethereum’s rise to all-time highs suggests that the value of the asset itself will appreciate, making it an attractive option for traders.
Smart Contracter’s prediction of a sustained uptrend for Ethereum means that traders should consider adding this digital asset to their portfolios. An increase in the value of ETH will likely lead to a positive impact on the cryptocurrency market as a whole. Traders may wish to consider buying Ethereum while it is still undervalued, as the asset may see significant growth in the near future.
The Bottom Line
Smart Contracter’s predictions for Ethereum are positive, forecasting a potential bull run to all-time highs. Traders should consider adding Ethereum to their portfolios due to the anticipated surge in value. However, as with any investment, traders should be cautious and should always conduct thorough research before making a decision.