The Bitcoin vs Ethereum correlation remains one of the strongest in crypto. Nine years on, it's still going strong. But lately, Ethereum has been lagging behind Bitcoin in performance. Why is this happening? Is it a good time to buy Ethereum? Here's my take. The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions. We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things. We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less. Join more than 24,000 investors here: Done? Thanks! That’s great! Now let’s dive in. Ethereum vs Bitcoin: Undervalued But RiskyThe TakeawayEthereum is significantly undervalued relative to Bitcoin, trading 2.5 standard deviations below its expected price. However, this apparent opportunity comes with caveats. We are close to a bear market regime where Bitcoin typically outperforms Ethereum, and their strong correlation suggests Ethereum may follow Bitcoin's downward trend. Fundamentally, Ethereum faces challenges. DeFi activity has plateaued, NFTs are declining, and blockchain gaming never took off. While Ethereum looks cheap, its lack of growth in key areas is concerning. Investors should weigh these factors carefully before increasing their Ethereum positions in the current market. Ethereum Is Significantly Undervalued Relative To Bitcoin...Unlock this post for free, courtesy of Ecoinometrics. |
Wednesday, September 18, 2024
Ethereum vs Bitcoin: Undervalued But Risky
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