BTC - Better Buy: Bitcoin or Ethereum?
2024-01-06 07:45:00 ET
After Bitcoin (CRYPTO: BTC) soared by more than 150% last year, investors are now looking far and wide for cryptocurrencies that might be able to outperform Bitcoin in 2024. One intriguing candidate is Ethereum (CRYPTO: ETH) , which is still the world's second-most valuable cryptocurrency with a whopping $270 billion market cap.
While Ethereum might not get the same hype as Bitcoin, it's certainly worth a closer look, especially if some of the catalysts expected to push Bitcoin higher fail to materialize. Let's take a closer look.
Just about everyone agrees that investor anticipation of a new spot Bitcoin ETF is the key factor pushing Bitcoin higher right now. The underlying logic makes sense: A new regulated financial product for investing in Bitcoin should attract money from both retail and institutional investors. If institutional investors with trillions of dollars of assets under management allocate just 1% of their portfolios to Bitcoin, that could result in literally tens of billions of dollars flowing into Bitcoin. That would almost certainly cause the price of Bitcoin to soar.
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Better Buy: Bitcoin or Ethereum?