K33 Research: Will Bitcoin or Ethereum Earn More?
According to K33 Research analysts, Ethereum (ETH) may provide more returns than Bitcoin (BTC) after spot ETFs are approved.
Summer months are generally quiet in the cryptocurrency markets. K33 Research analysts say volatility fell last week and expect it to continue falling this week due to July 4th celebrations in the United States.
Ethereum or Bitcoin?
Analysts at K33 Research expect the Ethereum price to “stumble immediately after the ETFs are established” but then begin to rise again.
“ETFs can significantly increase the strength of ETH as the summer progresses and money flows proliferate, and I think the current ETH/BTC price is a real bargain for patient investors,” said analyst Vetle Lunde.
“We remain bullish on ETH, expecting net inflows of 0.75-1% of the circulating supply of ETH within the first five months after ETFs are established,” analysts said.
The market paints a different picture
Stating that Ethereum futures contracts are at a discount compared to Bitcoin futures contracts and that the ratio between ETH/BTC is 0.055, analysts said that the market “stubbornly” disagrees with their point of view.
Ethereum has been steadily losing value against Bitcoin for about a year. The ratio between the two dropped to 0.045 on May 24, reaching its lowest level of the year.