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

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Mon, 02/03/2020 - 15:45
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  • 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. 

Ethereum
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.” 

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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.

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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

Cover image via stock.adobe.com
Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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