• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Here’s Why Bitcoin’s Upside May Be “Capped” Relative to Ethereum

Cole Petersen by Cole Petersen
2 years ago
in Altcoin Price
0
Advertisement
  • Ethereum has been able to catch up to some of the gains posted by Bitcoin as of late, but it still has a long way to go before it breaks its trend of underperformance
  • Yesterday, the cryptocurrency saw a swift rally past $460 that came about in the absence of any BTC movement
  • This was a promising push higher, and it has yet to surrender much of these gains
  • One analyst is now looking towards $500 as a critical level to break
  • He notes that a 10% move higher will lead ETH above this level and make it a far better value play than BTC

Ethereum has seen some immense strength throughout the past few days, rallying independently of Bitcoin as the aggregated DeFi sector shows signs of catching a second wave of momentum.

If DeFi tokens continue their ascents and rekindle the farming craze, it could drive massive demand to the Ethereum network – in turn enhancing the cryptocurrency’s fundamental strength.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

One trader is watching for ETH to begin outperforming BTC if it can break above $500. He notes that a break above this level would spark some serious upside.

He also added that, at the moment, Bitcoin’s upside might be “relatively capped” as compared to that of Ethereum.

Ethereum Holds Above $460 as Uptrend Stalls 

Yesterday, Ethereum saw a massive push higher that led it up to $465. This momentum rapidly stalled, and ETH has yet to break its weekly highs of $469 set just four days ago.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

At the time of writing, ETH is trading up just over 2% at its current price of $461. Its steady advance has been positive, but it still has multiple hurdles to surmount before it can break $500.

There appears to be massive resistance around $470, as well as $490. Once these two levels are shattered, it’s open skies for the crypto.

Legendary Trader: BTC Upside Potentially Capped Compared to That of ETH

One legendary pseudonymous trader, known for his massive seven-figure Bitcoin bets, stated in a recent tweet that he believes Bitcoin’s upside may be capped compared to Ethereum.

However, he believes that breaking $500 is crucial for this to be a tradeable sentiment.

“Think BTC upside might be relatively capped when compared to ETH if ETH is able to break 500…”

Ethereum

Image Courtesy of Flood. Source: ETHUSD on TradingView.

Unless Ethereum fails to break above its near-term resistance levels, its upside potential is quite significant.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Dogecoin and Elon, SpaceX launch

Dogecoin Crashes Back To Earth While Elon Musk Plays With Rockets

1 year ago
The Flippening in nature

Could Dreams Of Ethereum Flippening Bitcoin Be “Officially Cancelled”?

1 year ago
Ethereum, undraw

Sentiment Flippening: Why This Bitcoin Expert Doesn’t Own Ethereum

1 year ago
Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

1 year ago
Ethereum bull run

Ethereum And The Undeniable Signs Of A Bull Market

1 year ago
DeFi Total Value Locked. A safe.

Ethereum DeFi plus Binance Smart Chain Surpass $100 Billion In Total Value Locked

1 year ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.