Bitcoin vs. Ethereum: CME’s Bold Forecast
The CME Group, operating a derivatives marketplace, published a report discussing the dynamics between Bitcoin and Ethereum in the context of the 2024 halving event.
The report suggests Ethereum might outperform Bitcoin post-halving.
Before the halving, the CME Group is analyzing the correlation between Bitcoin and Ethereum, anticipating market ripple effects. Though Bitcoin has emerged as a distinctive asset class, it maintains a high correlation with altcoins like Ethereum.
The report acknowledges the correlation between Ethereum and Bitcoin. It also identifies other potential triggers for a Bitcoin bull run that could impact the ETHBTC pair and influence Ethereum’s valuation, possibly leading to its outperformance in 2024.
The report highlights factors to watch out for, including geopolitical conflicts and unexpected events like the collapse of regional banks, which can temporarily boost prices for both Bitcoin and Ethereum.
READ MORE: Bitcoin Has The Potential to Usher in a ‘Money Revolution’ Amidst US Bank Collapse – Cathie Wood
However, the report cautions that past performance does not guarantee future results, considering the market’s maturation over the years. Moreover, macroeconomic factors, especially central banks’ policies, will play a critical role in shaping the future of Bitcoin and Ethereum.
In 2020, central banks’ actions pushed ETH and BTC prices to all-time highs, but adjustments due to inflation in 2021 triggered a crypto winter from which most coins, including Ethereum, have yet to fully recover.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
