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Price predictions for converting eth to btc
25 July 2021
Glassnode analysts have identified opposite trends in the value of ETH and BTC. First, ETH will surpass BTC in this indicator. Second, the Ethereum infrastructure is underdeveloped and unable to compete with BTC in terms of transaction costs. Be that as it may, the price of Ethereum, according to crypto traders, will grow. Eth to btc exchange online is possible nevertheless.
Provided that ETH gains more transaction value, it is likely that altcoin will “put bitcoin on the blades” in terms of market capitalization, experts say. Quite a loud statement, which, nevertheless, already makes sense today.
ETH Blockchain Increases Demand
In 2020, users spent about $ 600 million on transaction fees on the Ethereum network:
- Coin surpassed bitcoin by 83% in this indicator. This, according to Glassnode experts, demonstrates the development of competition between these blockchains.
- Today we have an average of $ 5 transaction fees on the Ethereum network. Just the other day, when the price of the coin fell from $ 1300 to less than $ 1000, this figure reached $ 19. As reported by YellowBlock, the 30-day average daily trading volume reached a new all-time high of $ 23 billion. As for Bitcoin, the average network fee remains at $ 15.
- Obviously, if ETH gets more widespread, it has every chance of getting closer to the value of BTC. In general, the growth of commissions in the Ethereum network over the past week amounted to + 88% ($ 12.7 million / day), which already demonstrates: the blockchain is gaining wider demand, experts say.
Institutionalities and volatility
Last weekend there was a serious liquidation of futures. This is due to the price volatility of both Bitcoin and Ether. At first, short positions for selling were reduced, after which traders began to close long positions en masse.
Since the beginning of the year, the number of active addresses has increased, the account of which contains more than 1,000 bitcoins. As for the last week, there was an increase of 4.6%. It is significant that in the Ethereum network the figure reached + 31.1%. The jump potentially means that institutional interest in coins is still sustained. Moreover, it has strengthened significantly in relation to ETH.
“The cryptocurrency industry has entered 2021 at a crazy pace, and we can say that they will be even crazier. Bitcoin and other cryptocurrencies are still in relatively strong positions and are ready to grow in 2021, ”the report says.
ETH forecast for 2021-2025
Declan Igo, author of Ethereum Price Predictions 2021-2025, believes Ethereum will take over other altcoins in the next four years. The latest breakout in the value of the coin means that a bullish trend has begun for Ether, and against the background of a number of factors, its price may rise to new record levels.
Institutional interest, including due to the innovation of ETH 2.0. Ethereum is an ideal platform for investors who need both the ability to store a token as money and the ability to benefit from the growing use of the platform by third-party developers with new ideas.
Given the relatively small capitalization of ETH at the moment, the likelihood of a sharp rise in price at any moment is very real, writes Igo. The main payment platforms are ready to introduce cryptocurrency into their work, and the technology for using tokens such as ETH already exists at the retail level.
By the end of 2021, the price of the coin will reach $ 1,694, Capital Com writes. As for the forecasts for 2023, experts at DigitalCoinPrice announced a figure of about $ 1,614 per unit.
TradingBeasts.com, in turn, believes that the price of ETH will fluctuate between $ 500-630 during 2021, and by the end of the fourth quarter, the average price per coin will be $ 629.
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