11:40Ethereum Is to Fintech What Bitcoin Is to Gold – Bloomberg Report
The team at Bloomberg has released their monthly Crypto Outlook report in which they point out that ‘Ethereum is to fintech and digitization what Bitcoin is to Gold’.
According to the report, the world is shifting towards the digitization of finance and Ethereum is best placed to revolutionize the old way of doing things. Furthermore, in terms of price, investors seeking whole units of a digital asset will most likely view Ethereum in a favorable manner when compared to Bitcoin.
They explain the two phenomena as follows.
The world is rapidly going digital, and Ethereum appears as similar a threat to old-guard finance as Bitcoin is to gold…
For investors seeking whole units, the No. 2 crypto has a price advantage vs. No. 1 Bitcoin, but the bottom line for ETH is that it’s the go-to platform for crypto assets and the digitalization of finance.
Akin to Bitcoin winning the adoption race as the world’s digital-reserve asset, ETH is the foundation for non-fungible tokens (NFTs), smart contracts, decentralized finance (DeFi) and exchanges (DEXs).
Ethereum Might Hit $19k in 2021
If on a similar price-path as Bitcoin in 2017, Ethereum may reach $19,000 in 2021; to May 4, the No. 2 crytpo at about $3,400 is more than double Bitcoin on the same day four years ago.
ETH at about 4x its 50-week moving average indicates a stretched market. The last time this level was exceeded was around Ethereum’s peak in 2018
|Total comments: 0|
|China's measures take wind out of Bitcoin's sails (0)|
|Bitcoin enters 'death cross' amid China crackdown (0)|
|Bitcoin briefly crashed again, wiping out 2021 gains. Here's why. (0)|
|El Salvador’s Bitcoin move is unconstitutional, new lawsuit says, amid claims the President is getting cold feet (0)|
|Peter Schiff Unveils Best Time to Buy Bitcoin – It’s About MicroStrategy (0)|
|Bitcoin Bull Mike Novogratz on Chinese Crackdown: "Will Take Some Time to Play Out" (0)|
|Jim Cramer sells 'almost all' of his bitcoin as prices hit 2-week lows on China crackdown (0)|
|Cryptocurrencies tumble amid China crackdown on bitcoin miners (0)|
|Ether Plunges Below $2K, Bitcoin Dips to $32K (0)|
|U.S. Bitcoin Mining Firm Pioneers Alternative Flare Gas Energy (0)|