Bitcoin (BTC)’s recent rally saw the bar rise as bullish influencers and investors on Twitter celebrate the rise of the leading cryptocurrency. However, economist Shant Manukyan emphasizes that his preference is for another altcoin.
Bitcoin bulls reach $47K
At the time of writing, Bitcoin is trading at $47,443.47, gaining 16.12% from last week, up 6.22% in the last 24 hours. Meanwhile, the real celebrations were after the coin surged above $47,000 before falling again. The reason for this rise ranges from investors slowly recovering from the shock of the Russia-Ukraine war, to Santiment’s suggestion that Bitcoin short liquidations could help push prices higher.
On the other hand, Ethereum (ETH) is down 16.72% in the last seven days. It is trading at $3,368.91 with a positive change of 0.3 percent. In this context, it is worth noting that the Ethereum community is patiently waiting for the ‘merge’. Some analysts even predicted that the price of ETH could rise right after the switch to the PoS consensus mechanism. Economist Shant Manukyan said that the way is clear for Ethereum, which he has been on for a while, after Bitcoin exceeds 45 thousand dollars.
Another rising analyst on Ethereum, Founder of Abra and its CEO, Bill Barhydt. In a recent interview, he raised the cheetah to $30,000:
Personally, I’m very optimistic and wouldn’t be surprised if I see a peak at 30,000 (for ETH) in the next 12 months.
Can Ethereum outperform BTC?
Highlighting the importance of upgrading, Bill Barhydt states that Ethereum is effectively “the global computer of the future.” In fact, the executive also goes on to underline the “uniqueness” of the leading altcoin:
Ethereum is indeed establishing itself as what we call the world’s computer. Potentially the backbone for the decentralized web, Web3. And stablecoins are also currently in use. It is used for NFTs. It is also used in DeFi to adjust the aggregate value of hundreds of billions of dollars locked up by creating massive transaction fees. Ethereum is about to go through a major network upgrade. As
Cryptokoin.com, Ethereum core developer Tim Beiko has shared that the Kiln Testnet will be the last new public test to try merging.
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