For the perceptive observer, it might seem that the cryptocurrency market is about to flip on the upside. After months of negative price action, the industry is finally providing some positive signals for a sustained price rally. Investors are at last finding the chance to swap XVG to BTC and cash in some profits.
With Bitcoin and Ethereum spearheading the industry, many are wondering which one of the two provides a better opportunity. To help answer this question, this article will explore some of the fundamentals of these top cryptocurrencies. Moreover, we will analyze some of the latest price predictions from reputable sources around the internet. This should provide some insight into future price action and allow you to make informed decisions.
Bitcoin remains the top dog in the crypto world. The original cryptocurrency has gathered the attention of both retail and institutional investors and acts as the market mover most of the time.
While there might not be many updates to its protocol, many consider Bitcoin great as it is already. Layer 2 solutions like Lightning Network are providing the needed step forward to mass adoption. At the same time, Bitcoin blocks continue to be produced and contribute to the growth of the network. Moreover, thanks to sticking to its original ethos, BTC remains a staple of decentralized money.
One thing of note is that the Bitcoin halving is slowly approaching. This event that will happen in March 2024 usually confirms another bullish cycle for the entire crypto market. Even though this date may seem distant, you need to understand that Bitcoin supercycles start before the halving, and we are already inevitably approaching this possibility.
What Is Known About Ethereum
Ethereum is the number one smart contract platform in the blockchain world. It pioneered the concept of smart contracts and has the advantage of being a first mover in the industry. Consequently, this network boasts the highest number of high-quality developers and decentralized applications in the space.
What’s more, in September 2022, the network switched over to a proof of stake consensus mechanism. This move allowed Ethereum to become much more eco-friendly and future-proof. With additional scaling upgrades (sharding in 2023), the Ethereum blockchain is set for growth and mass adoption. It will certainly play a huge part in the ongoing Web3 revolution.
With that in mind, we can conclude that Ethereum might have more upside potential than Bitcoin at this moment. To support this thesis, let’s have a look at some expert opinions regarding the future price action of both of these cryptocurrencies. As a benchmark, note that the current price of BTC is $23,103.00 and that of ETH is $1,579.50.
BTC Price Prediction
With Bitcoin, analysts remain quite enthusiastic. Digitalcoinprice.com provides some great targets to look forward to. For 2023, the website already expects BTC to reach above $50,000. For the longer timeframe, they provide a forecast of $83,948.52 for 2025 and $241,247.18 for 2030.
Priceprediction.net provides similar targets. Short and mid-term, they expect BTC to reach $38,660.40 in 2023, whereas it could go as high as $83,876.69 in 2025. That said, their 2030 prediction is incredibly bullish, with targets above the $500,000 mark. This could make the case for investors that want to buy ETH to BTC.
ETH Price Forecast
For Ethereum, analysts remain similarly bullish. Digitalcoinprice.com, for example, provides some good targets for 2023 and 2025 — $3,536.40 and $5,826.42 respectively. Their long-term forecast for 2030 reaches as high as $16,872.36 per ETH token.
For Priceprediction.net, the short-term prediction is not as bullish, with a target of $2,763.03 for 2023. However, for 2025 and 2030 they predict some serious growth and provide price targets of $5,610.24 and $34,513.36 respectively. This opens a great opportunity for the purchase on an exchange like Godex.io.
Swapping BTC to ETH: What’s the Profit?
So, what should you expect when swapping BTC for ETH? Well, if we go over the price predictions from analysts, you are looking at similar increases in price for both cryptocurrencies. However, the difference lies in the fundamentals. With Ethereum becoming more scalable and deflationary, we hope to see more upside potential in the future from it. While it’s a good rule of thumb to hold both of these assets, having a higher percentage in ETH could provide a higher profit opportunity.