The world’s second-largest cryptocurrency Ethereum (ETH) has been an outperformer throughout 2021 ending the last year with a solid 250% return. Once again ETH has managed to outperform its top rival BTC by a great margin.
While the crypto market has been consolidating over the last week and so, Ethereum seems to be once again showing strength over Bitcoin. Based on the technical charts, popular crypto analyst Michaël van de Poppe writes:
Ethereum is showing more strength than Bitcoin at this point. A beautiful retest of that region around $3,500, which should be enough for this correction. Clear confirmation = break above $4,100.
Many analysts had given $10K price targets for Ethereum by the end of 2021. However, that didn’t materialize. But this hasn’t stopped analysts from being bullish about Ethereum going into 2022.
Many analysts believe that Ethereum can still achieve this milestone and even higher ahead this year. Continuing with his bullish stand on Ethereum Poppe notes that the goal should be to outperform Ethereum and not Bitcoin, for other competitors.
Shark Tank’s Kevin O’Leary Bets Big on Ethereum
In an interview with Forbes last week, Shark Tank’s Kevin O’Leary said that he views “the entire crypto industry as software development teams”. Thus, he continues to be more bullish on Ethereum than over Bitcoin. O’Leary noted:
Ether is my largest position, bigger than bitcoin. It’s because so many of the financial services and transactions are occurring on it. Even new software is being developed like Polygon that consolidates transactions and reduces the overall cost in terms of gas fees on Ethereum.
Well, Ethereum is also heading for a massive upgrade this year to the Proof-of-Stake (PoS) blockchain platform. This will exponentially increase the Ethereum network capabilities making it more scalable and cost-effective in terms of gas fees. It will be interesting to see which other Ethereum Layer-1 competitors gain traction going ahead.
- Ethereum (ETH) Showing Strength Over Bitcoin (BTC), Will It Outperform Once Again in 2022?
- ‘Shiba Inu To The Moon’ Trucks Spotted In Several Countries; Will It Start Another Upsurge In Values
- Shiba Inu Unveils First Phase of ‘DOGGY DAO’ to Empower $SHIB Holders
- Ginga Finance– A Community focused and Instant Stablecoin Rewarding Platform
- Crypto Review 2021: Here’s the recap of every major event from the past year
- XRP Lawsuit: What lies ahead for XRP in 2022?
- El Salvador President takes a dig at the U.S for sanctions, cites Bitcoin (BTC) benefits
- Breaking: Binance shuts C2C trading in Mainland China, offer services via partner firm
- Breaking: MicroStrategy buys the Bitcoin dip again, adds $94.2 million in BTC
- Turkey seeks to implement the crypto law “as soon as possible”
- Bitcoin Price Analysis: Hidden RSI Divergence In BTC Coin Hints Rally To $53000 Mark
- Ethereum Price Analysis: Falling Wedge Pattern Extends The Correction For ETH Coin
- Cosmos Price Analysis: New Year Brings 30% Growth Opportunity In ATOM Coin
- Monero Price Analysis: V-shaped Recovery In XMR Coin – Walks Toward The $320 Mark
- SAND and Mana Price Analysis: Metaverse Tokens Positive Today
- Uniswap Price Analysis: UNI Coin Plans To Release The Trapped Bullish Momentum
- Dogelon Soars Over 7% While Shiba Inu Gains but Technicals Inidcate Loss on Charts
- Price Analysis: CRV Targets A 14% Hike, While Spell Token Flashed A Golden Cross
- Swipe Price Analysis: SXP Coin Preparing To Escape The Descending Triangle Pattern
- Aave and Sushiswap Price Analysis: De-Fi Coins On A Rise, Register Over 7% Hike