Ethereum underperforms Bitcoin, but is the ETH/BTC pair ripe for a turnaround?
Ether has been underperforming Bitcoin for several months, but that may be about to end.
Ether (ETH) has been underperforming Bitcoin (BTC) by a considerable margin. The second biggest cryptocurrency by market capitalization hit a three-and-a-half-year low against Bitcoin on Sept. 18, last seen in 2021. The big question is whether the low offers a buying opportunity or will Ether continue to underperform.
Bitcoin has been stuck in a sideways price action for several months, but select analysts expect the price to break out of the range and hit a new all-time high in the fourth quarter of this year.
However, analysts do not expect the same from Ether, which is way below its lifetime high. Polymarket, the world’s largest prediction market, shows 85% odds that Ether will not hit a new all-time high in 2024.
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Author: Rakesh Upadhyay
