Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-will-recover-faster-than-ethereum" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Will Recover Faster than Ethereum</a><br></p>
<p style="text-align: justify">The cryptocurrency market is witnessing a significant divergence between <a href="https://en.bitcoinhaber.net/stunning-bitcoin-sale-yields-885-million-profit" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum, according to analyst CrediBULL Crypto. The expert forecasts that Bitcoin will bounce back more swiftly compared to Ethereum, citing a notable weakness in the latter’s performance.</p>
<h2 id="why-is-bitcoin-stronger">Why is Bitcoin Stronger?</h2>
<p style="text-align: justify">CrediBULL Crypto pointed out that Bitcoin’s price has managed to stay above crucial levels on higher time frames (HTF), while Ethereum has dropped below these benchmarks. By analyzing Bitcoin’s price movements, the analyst suggested that Bitcoin has the potential to close above its local low, indicating a robust price recovery. Conversely, Ethereum’s inability to stay above these levels shows a weakness in its market structure.</p>
<p style="text-align: justify">Moreover, Ethereum’s sharp decline is attributed to its failure to hold its HTF demand level, which has resulted in a broken market structure. The analyst identified the $3,000 to $3,500 range as a “Red Zone,” indicating that Ethereum might face significant resistance and could enter a prolonged consolidation period.</p>
<h2 id="bitcoin-s-path-to-100-000">Bitcoin’s Path to $100,000</h2>
<p style="text-align: justify">CrediBULL Crypto also predicted that Bitcoin is poised for a rapid recovery and could initiate its next upward wave. The analyst expects Bitcoin to potentially hit the $100,000 mark, thereby increasing its market dominance over Ethereum.</p>
<p style="text-align: justify">In contrast, Ethereum is anticipated to remain constrained within the $3,000 to $3,500 range, possibly undergoing a consolidation phase lasting several weeks or months. This scenario would see Bitcoin outperforming Ethereum in terms of market gains.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify"><strong>Investment Insights</strong></p>
<p style="text-align: justify">– Bitcoin has stronger market indicators on higher time frames compared to Ethereum.<br> – Ethereum is likely to face resistance between $3,000 and $3,500.<br> – Bitcoin has the potential to reach $100,000, surpassing Ethereum in <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market performance</a>.<br> – Ethereum may undergo a prolonged consolidation period, limiting its price movements.</p>
<h2 id="community-s-reaction">Community’s Reaction</h2>
<p style="text-align: justify">A member of the cryptocurrency community expressed dissatisfaction with the expected price increase for Ethereum, claiming that a $3,000 price point was below their expectations of $7,000 to $10,000. In response, CrediBULL Crypto explained that their predictions hinge on the ETH/BTC ratio dropping to 0.03, after which Ethereum could start an upward trend towards higher price levels.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-will-recover-faster-than-ethereum" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Will Recover Faster than Ethereum</a></h5>

Bitcoin Will Recover Faster than Ethereum

Table of Contents

BH NEWS

Other articles published on Aug 7, 2024

Dogwifhat Price Prediction: Solana Meme Coin WIF Soars 11%, But Analysts Say Consider This Base R...

Here are the Altcoins that Withstood the Recent Crash and Are Preparing for the Next Bullish Move!

Bitcoin (BTC) Facing Imminent Death Cross

Unizen Hacker Transfers $2.1M to Tornado Cash

Rollblock Capitalizes On Huge Momentum After Shattering $2 million Threshold, Can It Mimic PEPE &...

Binance Records $1.2B Inflows Amid Market Crash: Report

Join our free newsletter for daily crypto updates!