Bitcoin While continuing its volatile movements Ethereum (ETH)stood out with its tremendous performance in 2024 and compared to the rise of Bitcoin BTC’He left behind.
While this performance difference is interpreted as indicating a deviation from the upward trend in 2023, where Bitcoin leads the market, the expert who spoke to Bloomberg said that in the coming months He said ETH could outperform BTC.
At this point behind this situation spot ETH ETF While it was stated that there is an expectation of approval and increasing confidence of investors, it was stated that this is an indication that ETH will have an important position in 2024.
BloombergSpeaking to Singapore-based OSL SG Pte Trading Manager Stefan Von Haenisch argued that ETH will outperform Bitcoin.
“Ethereum is eclipsing Bitcoin in part due to speculation that the next leg of spot ETFs will be ETH, a harbinger of increased investor demand.
Against this expectation, ETH rose to $ 3,000 for the first time since April 2022.
Additionally, institutional interest in the Ethereum futures market is increasing, indicating increasing demand from investors looking to dive into ETH-related products.
“This trend underscores the increasing institutional adoption of ETH and indicates a bullish trend towards the cryptocurrency in the foreseeable future.”
ETH continues to trade at $2,888 at the time of writing.
*This is not investment advice.
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