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Bitcoin (BTC) and Ethereum (ETH) Prices Could Become More Reliable Indicators Than Stocks and Bonds, Analyst Says

News
Sun, 06/21/2020 - 14:53
Vladislav Sopov
Blockchain analyst Chris Burniske commented on the pale performance of Bitcoin (BTC) and Ethereum (ETH) and predicts a bright future for both of them.
Bitcoin (BTC) and Ethereum (ETH) Prices Could Become More Reliable Indicators Than Stocks and Bonds, Analyst Says
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Contents

Seasoned analyst Chris Burniske, author of the first cryptocurrency tokens price evaluation model, foresees hard times for Bitcoin (BTC) and Ethereum (ETH).

Short-Term Volatility, Long-Term Trend

Mr. Burniske announced that the ongoing 'flat' prices for Bitcoin (BTC) and Ethereum (ETH) may eventually force them to test new support levels. However, these drops would be only 'jitters' in the long run.

Chris Burniske foresees another leg down for Bitcoin (BTC) and Ethereum (ETH)
Image via Twitter

That being said, traders and holders shouldn't treat these ugly red candles as indicators of the exhaustion for both products. The fundamentals of Bitcoin (BTC) and Ethereum (ETH) still look good according to the analyst.

These 'jitters' don't look like something specific for the cryptocurrencies segment. Rather, it is more likely that they are common macro performance patterns of several assets.

As previously cover by U.Today Crypto News, Mr. Burniske highlighted that Bitcoin (BTC) still looks great, but should be evaluated without obsession. Any 'obsession' about the health and price performance of the flagship cryptocurrency may cloud the rationality of traders

Crypto Assets as New Macro Indicators

Mr. Burniske also emphasized that top cryptocurrencies may establish themselves as more reliable macroeconomic indicators as compared to traditional assets.

In this particular function, the most popular digital assets may replace stocks and bonds due for two fundamental reasons.

First of all, digital assets are less subject to government interference. It is worth noting that this factor was repeatedly mentioned by top financial speakers during the ongoing market recession period.

Bitcoin (BTC) and Ethereum (ETH) may also evolve into reliable and useful indicators of macroeconomic processes due to their 24/7 liquidity, which fuel trading of cryptocurrency assets.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
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Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)