Sell Bitcoin, Buy Ethereum
“Sell Bitcoin, Buy Ethereum”. Seeking Alpha, which publishes research and articles for the world of finance, has prepared a research with this title.. The site comes to such a conclusion by comparing the performance of these two assets.. Let’s look at the performance comparison of BTC and ETH with the details of the article in question.
Sell Bitcoin, buy Ethereum
Bitcoin market cap The leader of the crypto space in terms of. Unfortunately, BTC traders have to wait too long to see their positions turn positive.. Therefore, the period in which Bitcoin provides wealth to its investors is relatively short.. The chart below draws attention to this.
Chart analysis: The Income Machine
Especially during the 2017 peak, BTC Investors who bought it suffered huge losses.. Of course, it took years to make up for these losses.. Because of this, JPMorgan CEO Jamie Dimon called Bitcoin a “fraud”.. Of course, he admitted his mistake when the market rose.
Now let’s look at the BTC rise that started at the end of 2020.. The leading cryptocurrency then gained more than 250 percent in 6 months.
Source: The Income Machine
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The rise in this chart is remarkable. However, it still does not even come close to the estimates of $100,000, $50,000, or even $1 million in Bitcoin.. The phrase “forecast” itself is problematic, anyway.
In this respect, the possibility of capturing great positions on Bitcoin is rarely seen.. BTC history also shows this. Therefore, it is necessary to look for new opportunities in other areas of the market.
Graph analysis: The Income Machine
Related – The most asked question in the market: Bitcoin or Ethereum?
Seeking Alpha site therefore looks at the Ethereum chart and ETH-USD parity and explains its reason as follows: “ As a protective measure that allows for more reasonable valuations and increased potential for real benefit in broader markets.”
Ethereum is just under $3,200 and just under $3,500 after a strong rally since late April.
Momentum indicators are clearly positive. The RSI indicator is also at medium levels and looks very healthy.. This, in turn, could give Ethereum a boost that could provide the necessary push to set new records.
This is not the case with Bitcoin.. BTC has fallen below the critical $50,000 level several times, and a break below this level may also have a psychological effect on the market situation of the leading cryptocurrency.
It should not be forgotten that these two assets set out for different purposes in the crypto market.. Ethereum runs a decentralized network on which applications can be installed.
Bitcoin, in its simplest form, offers a fiat money alternative to the market.. Ethereum has an advantage here that comes from relative use.. This is the main factor that has given strength to the last very bull period.. Therefore, Seeking Alpha site advises its investors to exit BTC-USD positions and open ETH-USD positions.
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