The crypto industry has always been very fragile. Recently, it has been hit by a number of damaging events. Stemming from continued government interference, to its criminal use and influence on the dark-net.
Ethereum has many advantages when compared to single-use currencies like Bitcoin. Ether has the advantage of being associated to the ethereum platform. This allows the cryptocurrency to achieve things Bitcoin was never able to get close to. These extra functionalities allow ether to aggressively compete with Bitcoin.There have been many recent events marking ethereum's success. These have been reflected in the overall health of the cryptocurrency. The evaluation can be mostly made in ethereums price. Over the last 6 years the price of ETH has been on a very rapid trajectory.
Studying the two cryptocurrencies side by side is very impressive. Although bitcoin had a six year head start it is looking less appealing than ethereum. Six years afters bitcoin launch, the market cap stood at around $5 Billion USD. Looking into etherum, the crypto stood at $300 Billion 6 years after its launch.
Looking into the Future
Bitcoin and ethereum have been trading in tandem for a while now. Despite that, the maturation of the currencies to present new possibilities and challenges. Investors keep looking for the next best investment. Scanning across a wide range of digital assets aiming to find the next best long-term investment.It can be argued that Bitcoin has been the favorite asset for most investors in the crypto trade. Despite all of these fans, Ethereum is keeping up with the fight.
When visualizing the currency, it can be understood that it is a better alternative to bitcoin. Ethereum's dollar valuation has been set at a lower level compared to Bitcoin. Such a difference means that investors seeking to buy whole coins are more likely to pick ETH.
The latest ethereum update makes the cryptocurrency even more attractive. The update promises more scalability, sustainability and even security. Compared to Bitcoin, the cryptocurrency is poised to provide much more opportunity.Recent crypto market events have also helped ethereum gain popularity. The dips in bitcoin have shifted the attention to ethereums overall momentum and health.
Many industry experts have predicted that ethers next milestone will be the $3,000 mark. Such an event will set a new psychological barrier at $5,000. Experts say this will set off a cascade of investors in the coming months.Nonetheless, even if the predictions are wrong, the future of ethereum looks better than Bitcoin. The features the cryptocurrency offers is the reasons bitcoin investors must be cautious.
Susannah Streeter, a seasoned market and investment analyst made some comments. While working for the British Financial firm Hargreaves Lansdown, Susannah made some doubts. She said that the market should not be certain about ethereums future.
The analyst warned on the reality of the speculative environment of cryptocurrencies. She went on to mention that this reality does not exclude ethereum for any reason. Streeter also went on to indicate that ethereum is being influenced by online platforms by internet influencers. Online influencers are scrambling to find ways to increase support for their preferred crypto.
It is true that investors must exercise maximum caution when trading cryptocurrencies. Just like with all investments, the trap of being swallowed by a herd of emotions is present. It is also good to note that the cryptocurrency market relies completely on speculation.
Ethereum has become very competitive in recent time. After it's launch a little over 6 years ago, the currency is beginning to challenge bitcoin. It is true that ether offers many more features, better sustainability and security. This reality is reflected in ethereum's recent price growth.