2021-06-13

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Analysts stated that Ethereum is able to overtake Bitcoin for the price and popularity

2 min read

The relative stability of Ethereum in the cryptocurrency market in May attracted the attention of analysts to the idea that the second largest digital token may once overtake the Bitcoin at market value. Currently, the total cost of bitcoins is more than twice the cost of all Ethereum, but the gap has decreased by about $ 350 billion in May due to a serious drop in the Bitcoin rate.

Bloomberg.com

Tegan Kline, the co-founder of EDGE & Node, says that Ethereum will almost certainly surpass Bitcoin in the future, since this cryptocurrency is much better when it comes to innovation and the interest of developers. Nevertheless, investors he advises to invest in both tokens. The potential Ethereum is emphasized and analysts of a major American bank Goldman Sachs. The fact that attention should be paid not only to Bitcoin also testifies to the fact that its total market share in the cryptocurrency market has decreased from 70 to 24 percent this year.

Goldman Sachs analysts argue that the current superiority of Bitcoin, based largely on the status of the pioneer among cryptocurrency, is very “fragile.” In their opinion, ultimately he will lose its dominant position in the market, losing it with another cryptocurrency with higher value. Ethereum, according to the analysts of Goldman Sachs, seems to be the most likely candidate for this role, but the alignment of the forces on the cryptocurrency market can still change.

bloomberg.com

Bloomberg.com

According to the cryptocurrency broker Oasis Pro Markets, now Ethereum begins to be treated as one of the best investments in the long run. It is not as susceptible to the fluctuations of the course as Bitcoin, which fell about 37% in May, while the cost of Ethereum has decreased by no more than 11%. Recall that in May to the cryptocurrency market greatly influenced the statements of Ilona Mask (Elon Musk) and China’s tightening policy towards digital money. But still Bitcoin suffered much more.

But Oanda analysts are confident that Bitcoin will retain the leadership in the cryptocurrency market. They declare that one of its main advantages is a fixed amount of coins, which is 21 million.

Over the past year, Ethereum grew by 900%. At the same time, the growth of Bitcoin was 275 percent. These numbers allow you to believe that ultimately Ethereum will take a leading position, but if it happens, then not soon.

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