🔥ETHEREUM🔥

#Ethereum is undervalued compared to #bitcoin according to Matrixport.

The investment firm anticipates an incipient bullish trend for the cryptocurrency ether (ETH).

#Matrixport , an investment and financial services company, assures that the Ethereum cryptocurrency, ether (ETH), “is undervalued compared to bitcoin (BTC).”

This means that the market is not fully reflecting its actual or potential value. It may suggest that compared to bitcoin, the current price of ETH is lower than it should be, the company noted in its most recent report.

An example of this bullish trend of ETH can be seen so far in the month of November (measured in dollars). The cryptocurrency surpassed the $2,000 barrier, something that had not happened since last July.

This rally of #ETH was due to #BlackRock , the world's largest asset management company, filing with the Securities and Exchange Commission (SEC) to launch an ether spot exchange-traded fund (ETF).

The digital asset rally is also influenced by macroeconomic indices in the United States. The Bureau of Labor Statistics of that country published the Consumer Price Index (CPI), which fell in October from 3.7% to 3.2% year-on-year.

When inflation is low, investors can look for assets that offer higher returns than they could obtain in low interest rate environments, as is the case with ETH and BTC.

We will be attentive to how 2023 ends... because it seems that the beginning of 2024 is going to be very interesting!

Source: CriptoNoticias