Ethereum (ETH) Could End Up Overshadowing Bitcoin (BTC) in 2020

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Mon, 02/03/2020 - 15:45
Alex Dovbnya
While everyone is hyped about the upcoming Bitcoin (BTC) halving, Ethereum (ETH) could end up being the dark horse of 2020 
Cover image via 123rf.com
Contents

The price of Bitcoin (BTC) is widely expected to make it to a new all-time high after the highly anticipated reward halving. However, Ethereum (ETH) might end up bringing its investors more profits if the current trend continues.

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Another week, another win

According to data provided by crypto research firm Skew, the price of Ethereum grew by more than 14 percent last week. The leading altcoin significantly outperformed Bitcoin (BTC), which gained eight percent during the same timespan. 

image by @skewdotcom

The price of Ethereum had been on a roll the entire January, surging by about 40 percent. As reported by U.Today, this price rally coincided with the incessant growth of the decentralized finance (DeFi) ecosystem. 

Skew called the idea that Ether could trump the crypto king in the run-up to the halving a “big contrarian call.” 

An ordinary start 

While it might be tempting to think that Ethereum might lead the new bull market, they seem to forget that it’s completely normal for the top altcoin to outperform Bitcoin during the start of the year. Last February, the ETH price surged by 56 percent in less than a month.   

The big question is whether or not Ether buyers will manage to retain the same level of energy throughout 2020. Despite its great performance in the first half of 2019, Ethereum shamefully ended 2019 in the red. 

Trader Josh Olszewicz recently predicted that ETH could rally up to $555 this year due to its bullish technical picture

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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