The cryptocurrency markets seem to be catching some upside momentum in the last months. As the Bitcoin reward halving draws nearer, investors are hoping for another bullish cycle. The two most important cryptocurrencies in this industry are BTC and ETH.
Bitcoin has been massively accepted as a store of value, whereas Ethereum is the #1 smart contract platform for DeFi. This article will allow you to assess whether it’s the right time to use an ETH to BTC converter to make some profits.
To this end, we will analyze the latest updates in both ecosystems and provide you with some price predictions. This should give you enough information about trading these assets. Moreover, you’ll see which one provides the most upside opportunity.
The Future of Ethereum
During the bear market of 2022-23, Ethereum has been one of the few blockchain platforms that preserved activity on its network. Many layer-1 protocols that thrived during 2021 have been all but abandoned, with very few active users remaining.
Ethereum, on the other hand, has managed to conserve high levels of activity and TVL on its protocol. The mainstream consumer has accepted the Ethereum network as the leader in DeFi, despite its scalability shortcomings.
More importantly, we are seeing the emergence of strong projects supporting the narrative that Ethereum should remain on top of the industry. Layer-2 projects such as Optimism, Arbitrum, and Polygon are pushing towards better scalability and adoption of Ethereum.
Moreover, major players in the industry such as Coinbase and Binance have opted to develop layer-2 solutions for Ethereum. This could advance the narrative where Ethereum is used as a settlement layer. The layer-2 solutions would benefit from its incredible decentralized security, while simultaneously renting Ethereum block space.
ETH Price Prediction
Ethereum hasn’t been performing very well in the past few months, especially compared to Bitcoin. The ETH cryptocurrency has been stuck under the $1,700 mark, making it challenging for investors to get significant profits.
Given the fact that ETH is currently trading at around $1,650, let’s take a look at some predictions from reputable sources.
Priceprediction.net has a good expectation for ETH. The website places the coin at around $5,124 in 2025, which could coincide with the peak of an eventual bullish cycle.
Digitalcoinprice has a similar forecast, with a target of $6,053 for the same period. Consequently, following these analyses, investors could expect somewhere between 3.4-4x the ROI in two years’ time.
The Future of Bitcoin
Bitcoin gains more recognition and adoption as time goes by. Several factors could impact the price favorably in the future.
First, the upcoming Bitcoin halving should happen sometime in April 2024. This event usually precedes a significant period of volatility, with prices reaching new all-time highs.
Second, institutional investors are expecting a spot ETF approval from the SEC in the near future. This financial instrument could cause trillions of USD to enter the cryptocurrency market. This could open the industry to mainstream investors.
And last but not least, the adoption of the Lightning Network could allow Bitcoin to become much more scalable. Although it has become more of a store-of-value asset in recent years, Lightning Network allows users to access speedy and cheap Bitcoin transactions.
BTC Price Prediction
Lately, Bitcoin has been experiencing significant upside and has been outperforming Ethereum by a large margin. It’s currently trading at $30,6080, and here’s what analysts have to say about its future price.
Priceprediction.net expects BTC to reach as high as $78,762 in 2025, surpassing its 2021 all-time high. Digitalcoinprice.com is even more bullish, with a target of $111,437 for the same year.
Is It The Right Time to Swap ETH for BTC?
Following price analysts, the ROI for ETH and BTC might look quite similar. However, Bitcoin habitually drives the market forward and overperforms the rest of the industry before the beginning of the bullish cycle. As such, ETH could see some downside before holders can start making profits by purchasing it on https://godex.io/.
