The rate of Ethereum is currently trading at around $1,250, while the leading currency Bitcoin is consolidating at $17,000. In the trend of the last seven trading days, the performance of ETH/USD is slightly better than BTC. ETH/USD is trading about 4 percent above last week’s prices, while Bitcoin is less than 3 percent, according to coinmarketcap.com figures.
The bottom line is that this trend has little significance for the medium and long-term price forecast of both cryptocurrencies. However, there are some signs that buying Ethereum may have a better return than buying Bitcoin in the long term. It is worth looking at the technical chart analysis and analysts’ forecasts.
The ETH/BTC chart, which compares the development of Ethereum and Bitcoin prices, is very relevant for the direct comparison of Ethereum and Bitcoin prices.
Ethereum reached its best value compared to Bitcoin in 2017
Daily candles show that the price of Ethereum reached a peak compared to Bitcoin in 2017. Back in the bull market of 2017/2018, the Ethereum token was sometimes worth more than 0.15 Bitcoin. However, this was followed by a significant correction of less than 0.025 Bitcoin in December 2017 when the price of Bitcoin recorded the then price of almost $20,000.
Although the Bitcoin course experienced its peak here and already entered a correction phase, many altcoins were able to continue the rally until the beginning of 2018 and set new all-time records. During this last price explosion, the value of Ethereum rose again to around $0.12.
But then there was a violent crash on the crypto market, which hit the altcoins much harder than Bitcoin. Ethereum also suffered and subsequently lost value against Bitcoin. The low point was reached in September 2019, when there were only 0.016 Bitcoin for Ethereum buyers for 1 ETH. Compared to the highs of 2017, ETH lost almost 90 percent against the key currency.
Ethereum is up 500 percent faster than Bitcoin
But a lesson was taught to those who believed at the time that Altcoins in general and Ethereum in particular were dead in the 2020/2021 bull market. The Ethereum course has become extremely valuable and exploded from lows under $100 to almost $5,000. Ethereum has been able to record an even stronger uptrend relative to Bitcoin and buying Ethereum has been a better investment over the past two years than buying Bitcoin.
Ethereum was able to rise again to 0.09 Bitcoin by December 2021 and has increased its value by 500 percent compared to Bitcoin within 2 years. And despite this year’s major bear market, Ethereum has done well against Bitcoin. Ethereum is still around 0.074 Bitcoin, so this value has remained fairly stable. Compared to the previous bear market in 2018/2019, Ethereum seems to be much more stable in terms of prices and Bitcoin can no longer be discouraged when it comes to trend development.
Chart Analysis: Is Ethereum Worth 0.18 Bitcoin Soon?
But will this development continue or is Ethereum expected to lose strength again significantly in the near future compared to Bitcoin? The daily chart shows a very interesting chart pattern here. The Ethereum course moves in a symmetrical triangle compared to the Bitcoin course. ETH/BTC price is trying to break out above the resistance line that has been falling for several weeks. So far, however, this strong resistance could not be broken. However, if ETH/BTC breaks through this resistance line and consolidates it as a new support zone through a retest, this would be a very supportive sign for Ethereum. Because of that the technical price target is up to 0.18 Bitcoin, depending on the time of the breakout.
If this price target is actually reached, Ethereum could reach a new all-time high against Bitcoin. Due to the current prices it is very clear how important such a shift in market share towards Ethereum should be for the course. One bitcoin currently costs about $17,000. Now, if Ethereum were to rise to 0.18 Bitcoin, the Ethereum price would have to be over $3,000. And if Bitcoin rises to $100,000 in the future, for example, this would mean an Ethereum price of $18,000.
However, so far it has only been a theoretical calculation game, since Ethereum has yet to break through the mentioned resistance. In theory, there is still time until March 2026 before ETH/BTC has to make a directional decision on this pattern, which according to technical analysis is neutral. Ethereum may therefore remain in formation for the next few months and retest the lower support zone. This could bring Ethereum back to the levels of 0.04 Bitcoin, causing Ethereum to lose more than half of its value compared to Bitcoin without breaking the mentioned chart pattern.
Analysts are confident that Ethereum will grow by 1,800 percent
A double top pattern that may appear on the daily chart could be a bit cautious. However, this is not yet fully developed, so it remains to be seen if this is a valid formulation. However, if Ethereum-Bitcoin price breaks below the rising support line of this current formation around $0.06, the bearish price target of $0.02 could be reached. This would mean that Ethereum would only retain about a fifth of its current value compared to Bitcoin. With the price of Bitcoin at $17,000, Ethereum could drop to exactly $340.
However, the price forecasts from analysts do not believe in this case, but they are clearly bullish for Ethereum. Digital Coin Price estimates that the price of Ethereum can rise to more than $3,000 again in 2023 and reach a new record high in 2025. By 2031, analysts even consider Ethereum prices of more than $24,000 to be realistic. That is a growth of more than 1,800 percent in ten years. In comparison, analysts estimate that the price of Bitcoin can reach $330,000 by 2031. Therefore, Bitcoin would have a similar growth curve compared to Ethereum.
Alternative to Ethereum Blockchain: Buy IMPT Token
A new Ethereum-based project that is expected to give investors big returns in the future is IMPT. He is committed to the major issue of our time, climate protection. In this way, IMPT buyers can trade with emission credits and thus contribute to CO2 neutrality through their investment.
Due to the high demand for IMPT tokens, the stock was already sold out early in the first phase of the pre-sale. Phase 2 of the presale is currently running at a preferred price of $0.023. This group could also sell out quickly.
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Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.