Ethereum’s Triumph Is Nearing: Will It Challenge Bitcoin in the First Quarter of 2024?

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Second largest crypto asset Ethereum (ETH) has had a strong performance, quite in line with Bitcoin’s performance. However, Solana seems to be lagging behind other competitors such as Polkadot and Chainlink. This has sparked a new debate about what the future of Ethereum will be.

Ethereum’s Importance Will Not Decrease

Crypto analysts claim that the importance of ETH will not decrease, but will strengthen for several reasons. does:

  1. Ethereum’s transition from PoW to PoS has attracted attention, and its true implications are not yet fully understood. Next year, it is possible that ETH will become a more attractive investment than Bitcoin.
  2. Similar to Bitcoin, ETH is in the process of having a Spot ETF implementation, which could be more significant once approved. This development opens the door for decentralized applications (dApps) built on Ethereum to be included in ETFs, potentially increasing their appeal.
  3. The analyst points out the money flow cycle and states that Bitcoin usually comes to the fore before the halving. In this cycle, the approval of Bitcoin ETFs is expected to create positive momentum. As money flows towards market values, Ethereum is likely to be the next beneficiary.

Michale van de Poppe says Ethereum has faced negative sentiment in recent weeks, underperforming compared to Bitcoin. Given the focus on Bitcoin prior to ETF approval, this is considered natural price movement. It is possible that Ethereum will follow a similar pattern.

Poppe also shared a chart showing that ETH has historically always outperformed Bitcoin in the first quarter of the year.

Analyst, BitcoinHe expects a price range of $48,000 to $51,000 to be reached before the expected ETF approval. Poppe’s predictions include Bitcoin’s performance peaking in January. In addition, there is a rapid movement of funds towards altcoins. According to Poppe, Bitcoin dominance will likely peak before Bitcoin’s halving. As a result, he claims that the first quarter of the year will offer favorable returns for investments in the Ethereum (ETH) ecosystem.


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