After Bitcoin (BTC) skyrocketed to $13,700 during the last few days, the virtual currency fell to $10,000. The main question that many investors are now making is whether there will be another cryptocurrency that will outperform most of the others. Could Ethereum (ETH) be the next digital asset surging in a similar way as Bitcoin did last weeks?
Could Ethereum Surge In The Near Future?
Thomas Lee, the co-founder of Fundstrat Global Advisors suggested that FOMO in the market was going to start when Bitcoin surpassed $10,000. And indeed, the virtual currency had a fast move from $10,000 to $13,700 in which investors thought that Bitcoin was going to be traded close to $15,000. Nevertheless, this didn’t happen and Bitcoin dropped down to $10,800 in 24 hours.
Those users that feel that didn’t have the opportunity to enter the market when Bitcoin was moving at very fast rates, could still have a new chance with other digital currencies.
The co-founder of Aluna Social, commented that if a crypto investor lost the Bitcoin price increase, they could have a second chance with Ethereum. The Twitter user Alunaut has also mentioned that he is long ETH on Deribit.
— Alunaut 🌎 🚀 🌘 (@onemanatatime) June 26, 2019
Nonetheless, due to the fact that the whole market is currently falling, the long position that the trader open should have been liquidated at an estimated price of $286. Currently, Ethereum is being traded close to $280, according to CoinMarketCap.
Another crypto enthusiast and analyst called Bleeding Crypto commented that Ethereum has outperformed Bitcoin in ROI year after year. Thus, he considers that this time could happen in a similar way.
In addition to it, Bitcoin is currently getting closer to its all-time high and the room that it has for growing is smaller compared to other digital currencies in the market. Meanwhile, Ethereum would have to grow more than 400% to reach its all-time high close to $1450. Bitcoin would have to increase just 85% more from current prices.
Another virtual currency that could be expanding in the future is Litecoin (LTC). This digital asset is going to be halving in the near future and this could give investors an extra bullish reason to enter the market.
At the time of writing this article, Ethereum is the second largest digital asset in the market with a valuation of $30 billion.
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