in 2023 Bitcoin Cryptocurrencies, especially cryptocurrencies, experienced good increases. At this point, BTC experienced a 160% increase while the biggest altcoin Ethereum It increased by 97%.
ETHWhile the rise in has remained lower compared to Bitcoin, this suggests that ETH will underperform compared to Bitcoin in 2023.
However, this situation may reverse in 2024.
According to The Block, ETC Group said in its report that Ethereum could outperform BTC in 2024.
ETC Group Head of Research André Dragosch stated that ETH’s upward performance will be supported by technological advances and Ethereum’s position as the leading smart contract platform.
“Ethereum has underperformed Bitcoin over the last 12 months. However, this situation may be reversed.
Ethereum may outperform Bitcoin in the coming year.
With the decrease in ETH supply combined with the attractiveness of ETH staking returns, the largest altcoin Ethereum may outperform Bitcoin.
Net supply issuance of Ether is at –1.1% annually as approximately 1.84% of annual ETH supply is currently burned.”
Dragosch argues that ETH will return to its high performance against Bitcoin, except for 2023. Ethereum has been in constant decline since its inception in July 2015. BTCHe pointed out that it performed better than “Bitcoin’s 12-month relative performance shows a strong trend that has historically implied a reversal.” said.
*This is not investment advice.
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