As we all know, institutions got involved with Bitcoin to hedge against inflation but are now backing down due to it's energy concerns. That was not unexpected considering the strong forces in pushing EVs and renewable energy companies that are flourishing under Biden's administration.
The best alternative to bitcoin is Ethereum specially because of its proof-of-stake capability. Now historically, Ethereum grows twice as fast as Bitcoin and should catch up with it by the next 8 years if the bitcoin cycle continues.
For now, Bitcoin has a larger market cap and is driving all other altcoins including ETH especially on its way down. But when the bullish trend of the next cycle begins ETH could grow as much as 9000% on its next run following its historical price action. ETH is the way to go and shall be named the next King!
In the next cycle, ETH could pass $100k and might reach $128k
BTC will go up too but doesn't have the growth potential of ETH and might get screwed later on due to its proof-of-work algorithm. Here is my BTC price trajectory for 2024.
The best alternative to bitcoin is Ethereum specially because of its proof-of-stake capability. Now historically, Ethereum grows twice as fast as Bitcoin and should catch up with it by the next 8 years if the bitcoin cycle continues.
For now, Bitcoin has a larger market cap and is driving all other altcoins including ETH especially on its way down. But when the bullish trend of the next cycle begins ETH could grow as much as 9000% on its next run following its historical price action. ETH is the way to go and shall be named the next King!
In the next cycle, ETH could pass $100k and might reach $128k
BTC will go up too but doesn't have the growth potential of ETH and might get screwed later on due to its proof-of-work algorithm. Here is my BTC price trajectory for 2024.
