Ethereum superiority over Bitcoin in recent weeks; Analysts are hoping for a leap

Ethereum price chart

Ethereum superiority over Bitcoin in recent weeks; Analysts are hoping for a leap

Ethereum superiority over Bitcoin ; As Ethereum rises in price against Bitcoin, analysts believe there is a possibility of an imminent jump. On the other hand, they predict that as the price of the Ethereum / Bitcoin currency pair rises, so will other altcoins.
According to the Coin Telegraph, the price of the Ethereum / Bitcoin currency pair fluctuated yesterday and reached its highest level since February. Based on this jump, traders expect to see a sharp rise in the price of this currency pair in the not too distant future.
In the first two weeks of April, Binance Coin outperformed Ethereum. High transaction fees on the Ethereum network and a sharp increase in activities on the Binance Smart Chain (BSC) caused Ethereum to lose the convoy to the BNB.
In recent days, Ethereum has managed to outperform Bitcoin and BNB. It should not be forgotten that Bitcoin is the market top currency and BNB is the market number 3.

Why is the price of Ethereum / Bitcoin rising?

In the last 24 hours, following the Ethereum leap, ‌ the Altcoin market هم also grew. This growth reduced Bitcoin’s dominance in the market by 50.7%. This is the lowest bitcoin dominance since the summer of 2018.
One of the reasons for the jump in the Alt Quinn market is the further fall of these cryptocurrencies after the offering of Coin Base shares in the Nasdaq market.
After $ 10 billion in futures were liquidated, futures markets experienced a relative recovery. This eventually led to an increase in interest in entering future markets.
Since then, we have seen an increase in demand for Ethereum, Binance Coin, Dodge Quinn and some other marketable altcoins.


Analysts predict in the short term that an increase in the price of the Ethereum / Bitcoin currency pair may lead to more stock jumps, and these jumps will be stronger for Altcoins.
Crypto Capo, a leading market analyst, expressed optimism about the Ethereum price jump compared to Bitcoin:
The Ethereum / Bitcoin currency pair will redefine the concept of equity jump.
NekoZ, a cryptocurrency derivatives trader, said in a statement that Ethereum was showing good momentum, which could spread to the Altcoin market. He noted:

I really like the reactions I have had so far. It will probably be the same for the rest of the week, and the acceleration of the price movement will be around this axis.

Another derivatives market analyst, Bluntz, referred to the Ethereum / Bitcoin status as “crazy” after Ethereum was built.

Emphasizing the twin floor pattern in the Ethereum chart, he wrote:

Twin floor in 4-hour time frame; Bitcoin Ethereum currency pair is crazy again. As far as I can remember, this was the biggest flooring [Ethereum]. Even I closed most of my leveraged positions.

Intra-chain data

Intra-chain data-Ethereum
Intra-chain data-Ethereum

Cryptocurrency data show that Ethereum shares in the Ethereum 2.0 deposit agreement are on the rise.
This reduces the number of Ethereum’s in exchange offices, and this may increase the upward pressure on the market.
The status of wages also shows that despite high wages, this rate is still increasing.
Aref Raeesi, Ethereum investor, says:
Ethereum and Defi are heavily focused on infrastructure. Binance Smart Chain has been able to copy and streamline this infrastructure to make it faster and more motivated to focus on the user experience. I think second-tier transaction solutions pave the way for greater scalability and enable critical innovations in smart contract wallets.
It is worth noting that the Binance smart chain and other first-tier blockchains have been able to perform better than Ethereum. Meanwhile, the release of Ethereum and second tier solutions could attract more regular users in the coming months.

Ethereum superiority over Bitcoin in recent weeks; Analysts are hoping for a leap

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *