Analyst: Investing in Ethereum Could Be More Profitable Than Bitcoin

2019-2-20 17:18

Investing in Ethereum at its bottom could yield more returns than investing in Bitcoin, said Don Alt.

The famous cryptocurrency analyst, who has 82.7k following on Twitter, claimed that his investment paid off when he bought Ether at $121. While he didn’t specify the nature of his trade, he said his investment could return ten times more profit than bitcoin while still costing 1/3rd of the leading digital currency.

“I’ve heard Etherum will one day be the global computer that [executes] smart [contracts], tweeted Don Alt. “So I rebought me a few at 121. Seems like a good idea if you compare it to BTC it can go x10 easily and still only be worth 1/3rd of a coin. That’s a steal right there.”

I've heard Ethirum will one day be the global computer that does smart contractions so I rebought me a few at 121.
Seems like a good idea if you compare it to BTC it can go x10 easily and still only be worth 1/3rd of a coin.
That's a steal right there.

— DonAlt (@CryptoDonAlt) February 17, 2019

Best Bottom Recovery

Ether was a superstar cryptocurrency in 2017 thanks to the great ICO mania. It performed even better than bitcoin in the same year. However, 2018 had a different story to tell. Ether closed the year at $131, down 82.% from the open. On the other hand, Bitcoin posted a yearly drop of 74.7%, calculated between the highs of January 1, 2018, and lows of December 31, 2o18.

At the end of 2018, both Ether and Bitcoin established their so-called bottom levels. For ETH/USD, the new low was 83, according to BitFinex data. At the same time, the low for BTC/USD was 3,220. The cryptocurrency market, as a whole, is undergoing a weak upside correction ever since. At the press time, the ETH/USD rate has surged 55.42%, while BTC/USD has jumped 14.62%.

That explains how Ethereum is recovering faster than Bitcoin – and why Don Alt is more bullish on the former.

Why people still trade BTC over ETH is beyond me. pic.twitter.com/XVu3Cjga0O

— DonAlt (@CryptoDonAlt) February 17, 2019

“I knew this was the company to bet on,” said Don Alt. “Their CEO Vitalik 100% knows what he’s doing.”

What’s Next for Bitcoin and Ethereum

Bitcoin and Ethereum are walking in their separate directions this year. While the world’s leading digital currency is venturing into futures and ETF markets, Ethereum is attempting to find adoption among upcoming digital ledger-enabled projects.

Steven Nerayoff, the co-creator of Ethereum, said that the growth of Ethereum as technology would be as high as the rise of FinTech across mainstream industries.

“You’re seeing a tremendous amount of growth across a wide variety of industries. Fintech is the natural area, but now you’re seeing it becoming increasingly more creative — you find projects in the oil and gas industry, you’re finding government using it in their applications, you see it in gaming, all kinds of different areas,” Nerayoff explained.

As for Bitcoin, analysts believe the digital currency’s recovery would be slower than the rest of the cryptocurrency market. The only reason that explains the prediction is the bitcoin’s growing dependence on the mainstream financial players.

Seeking Alpha’s Sandeep Singh Ahluwalia wrote that the global financial slowdown had a possible correlation with the price action of bitcoin. The financial expert said that investors were not ready to inject hard cash into the old and new market, which also include cryptocurrencies.

“Most investors will now want to invest their funds in more dependent and recession proof assets such as Gold. Hence, I expect fewer funds to flow into Bitcoin due to the tense political climate.”

The post Analyst: Investing in Ethereum Could Be More Profitable Than Bitcoin appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3354.73 (-1.46%)
Объем 24H $34.501b
Изменеия 24h: -0.33 %, 7d: 7.85 %
Cегодня L: $3354.73 - H: $3446.97
Капитализация $404.013b Rank 2
Цена в час новости $ 148.68 (2156.34%)

could investing bitcoin analyst ethereum said investment

Источник: newsbtc.com

could investing → Результатов: 90


Фото:

Bitcoin Price Analysis: Consolidation Breaks Out Into Macro Resistance Test

Over the course of the last 10 days, bitcoin has managed to rally nearly 20% in value as it burst through two major resistance levels and is now beginning the test of a major macro level:Figure 1: BTC-USD, Daily Candles, Macro ResistanceWe can see a clear, descending supply-and-demand channel that governed the market for the last two months.

2019-2-20 01:38


Фото:

Bitcoin Price Analysis: Major Support Broken on Expanding Volume and Spread

After weeks of consolidation, bitcoin finally broke through support. The market now finds itself cruising toward prior lows. On expanding volume and spread, the bitcoin market appears ripe for a continuation of the downtrend:Figure 1: BTC-USD, Daily Candles, Broken SupportAlthough the current daily candle has yet to close, unless there is a strong influx of demand hitting the market, it stands to reason that bitcoin will be closing a new daily low for the first time since mid-December.

2019-1-29 02:01


Фото:

Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern:Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders BottomThis current pattern is nothing more than a setup at the moment, but it represents one potential outcome of this sustained consolidation.

2019-1-4 02:22


Фото:

Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight

Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant:Figure 1: BTC-USD, 4-Hour Candles, Bear Pennant BreakoutThis is a massive bear pennant with a staggering $2,000 measured move.

2018-12-12 01:52


Фото:

Bitcoin Price To Hit $3,500 Before Making A Comeback To $5,000: Analyst

There is never a shortage of advice on investing in cryptocurrencies, and with the market crashing hard recently, many investors are seeking the advice more than ever. While some experts have indicated that it may be the most opportune time to get into crypto, others have warned that it could go down even further before […] The post Bitcoin Price To Hit $3,500 Before Making A Comeback To $5,000: Analyst appeared first on NullTX.

2018-11-22 00:37


Фото:

Stackr: The Dawn of a Digital Asset Savings Solution - [BTC Media Sponsor]

Financial savings have long been the foundation of wealth and asset building. However, we are now in a time when the growing obsolescence of financial institutions has forced certain technologies out of date, created high fees, revealed structural inefficiencies and, ultimately, meant that some standard investment solutions now fail to place consumer needs first.

2018-10-6 16:37


Фото:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29


дальше еще 41 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum gains 7% to surpass $3.3K: what analysts are saying

Ethereum has jumped by more than 7% in the past 24 hours to break above $3,350. The top altcoin’s price gains come after Bitcoin spiked to its highest-ever mark above $98k on Thursday morning. While ETH has failed to master a significant rally in the wake of Bitcoin’s surge in the past month, the market’s […]

Bitcoin And Ethereum Now Treasury Reserves For International Healthcare Group Cosmos

In the wake of President-elect Donald Trump’s victory on November 5, there has been a notable surge in interest surrounding Bitcoin (BTC) and other digital assets. This trend is prompting global firms and governments to explore integrating leading cryptocurrencies into their treasury reserves, a shift that reflects a broader acceptance of digital currencies, particularly in the […]

Spot Bitcoin ETFs see negative day with $400.6m net outflows

Spot Bitcoin exchange-traded funds in the United States experienced an outflow day on Nov. 14, ending their six-day inflow streak that had brought over $4.73 billion into the funds. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded…