Sunday, 12 January 2020

Ethereum could be undervalued compared to Bitcoin: analyst

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ethereum price


 
On the most recent episode of Laura Shin’s Unconfirmed podcast, senior research analyst for CoinMetrics, Nate Maddrey, spoke about Bitcoin, as well as other altcoins, and how they performed over 2019. Maddrey noted that while Bitcoin was up around 90% over 2019, Ethereum was nearly 5% down on the year.
“This is one of the first years where we’ve really seen that sort of separation between Bitcoin and Ethereum.”
 Bitcoin Daily Chart :

btc chart


 When asked why Bitcoin outperformed most altcoins, he explained that it was mostly due to the bear market, when people tend to consolidate and sell some of the smaller coins. Maddrey also stated that they’re seeing more evidence that Bitcoin is really being used as a store of value. “I think we’re actually starting to see some real compelling data,” he said.

Ethereum Daily Chart :

eth chart

 Read The Whole Story on AMB Crypto

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