LATEST CRYPTO NEWS:
ANALYST SEES BITCOIN PRICE AT $50,000
In a daily comparison, BTC has already risen another 3,000 US dollars (about percent). This week we have reached an increase of almost 20 percent.
The BTC was able to successfully hold between 30,000 and 40,000 even though the market gave way. The entry of institutional investors and the current uncertainty in the entire financial market play their part in the fact that BTC could reach a price of 50,000 US dollars in the near future - perhaps in Q1 2021.
ETHEREUM AT $ 2,000
In the meantime, the ETH even rose to 1,800 US dollars today, before it fell slightly. Analysts are now seeing the $ 2,000 mark on the horizon. Soon Ethereum should successfully cross it.
One reason for this is that major investors and funds are increasingly adding Ethereum to their portfolios after the successful launch of ETH 2.0. For example, Grayscale investors topped up their portfolio with ETH with a total value of 5 billion US dollars.
DOGECOIN OUTPERFORMED BITCOIN IN FLASHMOB-RALLY
Bitcoin also benefited and in the meantime even rose again to 37,500 US dollars. Some day traders took the increase with them to cash in. The course sank again. With Dogecoin, this dynamic looked similar, but was even clearer: In just two days, DOGE rose from 0.007 to 0.077 in US dollars, only to drop back to 0.031.
These developments are related to a flash mob rally that was triggered on Reddit. Small investors had invested in GameStop shares to trigger a short squeeze that attacked hedge funds.
By the way, Bitcoin is an asset that is currently also being intensively shorted. Will the flash mob rally join the BTC market at some point?
ETHEREUM BECOMES THE BIG WINNER OF THE YEAR, AHEAD OF BITCOIN
Admittedly, it was primarily the weak year 2019 that put Ethereum in a good starting position for investors to join in January 2020. When the ETH 2.0 project was started successfully in the last quarter, this triggered a bull run, which for Ethereum even exceeded the rally of the overall market. Today, an ETH is worth almost 6 times what it was worth in January - the BTC “only” increased 4 times over the same period.
ETHEREUM SOON TO BE WORTH MORE THAN BITCOIN ?
Ether could already have a higher market capitalization than Bitcoin at the end of 2017, and in 2018 the Ether price will overtake the Bitcoin price.
The biggest advantage of Ethereum is the ability to create decentralized apps with your own blockchain. This function results in a synergistic effect that makes Ethereum more valuable with every project. JP Morgan Chase, Microsoft and Intel are already using Ethereum.
What is certain, however, is that every cryptocoin investor should watch ether carefully.
It is important to always keep in mind that both systems are crypto currencies, but pursue completely different goals. Ethereum as a smart contract system and Bitcoin as a money system. With Ethereum, the blockchain is also reset from a central point, so to speak (after the DAO disaster), which would no longer be possible today with the globally widespread Bitcoin system. Furthermore, the maximum BTC amount has been fixed at 21 million Bitcoin since the beginning. In the case of ether, in my opinion this very important number is still uncertain.
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