Why Ethereum might be a better buy than Bitcoin?
Although the price of Ethereum has fallen by 8% each month since the Ethereum ETF was approved, currently trading at $3,367, by comparison, Bitcoin has fallen by nearly 12% during the same period and currently trades at $61,146. This clear shift in market sentiment shows that Ethereum may outperform Bitcoin. Here are the advantages of Ethereum over Bitcoin:
Key factors in favor of Ethereum:
1. Not affected by Mt. Gox
A significant advantage of Ethereum is that it is not affected by the liquidation process of Mt. Gox, which creates a more stable environment for ETH. In contrast, Bitcoin holders are concerned that Mt. Gox’s repayment could trigger massive inflows of BTC.
2. German investors hold Ethereum
Another positive sign is that German investors appear to be accumulating Ethereum holdings, while Bitcoin is facing selling pressure. This trend reflects the market’s increasing confidence in Ethereum and also indicates that its stability is improving.
3. There is no selling pressure from miners on ETH
Ethereum’s transition to a proof-of-stake model has effectively reduced the selling pressure on miners. Unlike Bitcoin miners who need to sell assets regularly to cover operating costs, Ethereum miners do not face such constant selling, helping its price to stabilize.
4. Upcoming ETFs
Similar to the positive impact of the Bitcoin ETF on the BTC market, the cryptocurrency community is looking forward to the launch of the Ethereum ETF. This is expected to attract more institutional investors, potentially driving growth in demand and value for ETH.
5. Ethereum’s supply shock is bigger
Ethereum faces greater potential supply shocks than Bitcoin. The supply of Ethereum on exchanges is shrinking as the amount of newly mined ETH decreases and interest from institutional investors rises. If demand increases, a reduction in supply could trigger a significant increase in price.
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