Why ETH offer double return over BTC in the last year? I hope you're doing great! I wanted to share some exciting news with you about the performance of Ethereum (ETH) over the last year.
As you may know, Bitcoin (BTC) has been the talk of the town for quite some time now. However, ETH has been silently outperforming BTC over the last year. ETH has grown over 5.7% in value in the previous 12 months, while BTC has last only 6.06%. That's right, and ETH has nearly doubled the growth of BTC!
This clearly indicates that ETH is becoming a more valuable and reliable investment option. And with the recent upgrades to the Ethereum network and the growing popularity of decentralized finance (DeFi), the future looks even brighter for ETH.
So, if you're looking to invest in a cryptocurrency with a higher potential for growth and stability, I highly recommend investing more in ETH over BTC. Don't miss out on this opportunity to join the ETH revolution!
Thank you for your time and consideration. Happy trading!
Ethlongs
ETH : $4303$ETH
If $881 was the bottom for #ETH, everyone who are looking for $500 to long ETH will be buying $ETH much higher.
Mid Term scenario:
Provided $ETH stays above $1248, we will surely see a move towards $1788. If we claim $1788 and flip it to support,
$ETH charts extended fib indicate a move towards:
$1838, $1976, $2171, $2420, $3139 and $4303.
This move will be surprisingly fast.
If DEC Interest rates increment slows down to 50bps and shows signs of further narrowing, we could see these levels by Q1 2023.
What happens long term with ETH price?
As we approach the Shanghai Upgrade and EIP 4895 gets effective, we may see a small sell off as beacan chain stakers of ETH will now be able to unstake ETH gradually. That also coincides with the impeding recession fear.
Both combined. $ETH might retest today's levels towards the Shanghai Upgrade in 2023. Once that is through, they real bull run in ETH will be begin.
EIP 4844 allows proto-danksharding. This proposal will enable data processing on network and thereby reducing gas fees.
By this time, $ETH also starts getting deflationary and the deficit between new ETH and Burned ETH keeps increasing thereby increasing the coefficient in the decrease of supply curve . Rapid drop in ETH supply = Rapid increase in price.
Ethereum double bottom & Ascending triangle breakout? I'm looking at Ethereum chart in multi- timeframe. Using trend based fib extension, I showed you that 100 % projection of A wave / from November top/ATH/ to January low has been completed. In daily timeframe there is a nice Adam & Eva double bottom pattern with ascending triangle/. Such kind of pattern there are on total market cap and BTC charts as well. At 4h timeframe there is ascending triangle too. Its resistance has been tested 4 times. To get confirmation of the breakout we need BTC 4h and daily candle close above the resistance. I expect it in coming days. All targets are pointed on the charts.
You can also check my previous analysis about BTC, Total market cap, DXY, USDT dominance and understand why I'm bullish.
ETH - Daily chart - Long scenarioLooking if Price will move as marked. (Orange arrow). Where i would enter the long at the cross between the two trendlines and a by then Support area.
Target is based on the next big Resistance area.
Dont forget:
- Watch your Risk management
- Bitcoin has an influence on all Altcoins, be aware of movements there
- DYOR (Do-Your-Own-Research)
- This information / article is only for educational purporses and not a recommendation to buy or sell.
I'm not a Financial Advisor.
Thanks for reading!
trader_se