Ethereum (ETH) Showing Strength Over Bitcoin (BTC), Will It Outperform Once Again in 2022?
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.
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
