• Sun. Jul 14th, 2024

Andre Dragosch Forecasts ETH Domination of BTC in 2024

Maria Bartiromo

ByMaria Bartiromo

Jan 4, 2024

According to prominent cryptocurrency expert and the lead researcher at ETC Group, André Dragosch, Ethereum is expected to surpass Bitcoin in 2024. Dragosch’s prediction on the possible trajectory of Ethereum and its relative performance to Bitcoin has prompted discussions among users as they look into investment opportunities in the cryptocurrency sector.

Analysts are also focusing on Meme Mogul’s prices and assessing the future of this distinct market niche in the cryptocurrency world. Dragosch points out that promoting diversity is a notable aspect of the investing environment. According to him, users can invest up to 20% of their virtual money in a single transaction.

Amid Ethereum’s price appreciation, David Schwed, the Chief Operating Officer (COO) of Holborn, told the Block news platform that the BTC has established a role and stability for a possible dominance of Ethereum. 

CryptoCon Predicts a Likely Price Movement for the BTC 

Dragosch is optimistic about Ethereum’s performance compared to Bitcoin because of the network’s capabilities and possibilities for innovation. The network is positioned as a strong competitor in the cryptocurrency market by its capacity to handle scalability issues and adopt new technological developments.

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Apart from Dragosch’s projections regarding Ethereum, cryptocurrency expert CryptoCon has also forecasted possible price movements for Bitcoin. By November or December 2025, Bitcoin might hit $130,000, according to CryptoCon.

This prediction aligns with the current debates on Bitcoin’s potential to hit new all-time highs, with various factors influencing its price trajectory, including institutional adoption, regulatory developments, and macroeconomic trends.

BTC Hopes to Retain Long Positive Prospect To Reduce Supply 

Narrower subsets of the cryptocurrency market are receiving more attention than the big players like Bitcoin and Ethereum. Analysts assessing the future pricing of meme-based coins and projects are interested in the Meme Moguls category.

Meme Moguls’ distinct dynamics, fueled by social media trends and community involvement, give price changes in this market a degree of unpredictability. The BTC may take a break between 52% and 38% after five to six months of positive performance and ending in May 2024.

CryptoCon is optimistic that the BTC will retain a very long successful growth and likely have a significant change afterwards. Dragosch has revealed many things wrong with Ethereum as a system. The important one is the burning mechanism, introduced sometime in August by the Ethereum Improvement Proposal EIP-1559.

Dragosch disclosed that the new feature is expected to reduce Ethereum’s general supply, supporting the prices. Dragosch suggested that by staking rewards and decreasing supplies, Ethereum can outperform the BTC. As of press time, the cost of Ethereum is circling $2,300 and aiming to go bullish at $2,500.

Ethereum’s Transaction Revenues Declined 29%, 1.84% Burnt Annually 

The wider investment community understands how critical it is to remain current on new developments in the cryptocurrency world, including disruptive technologies, creative ventures, and rising trends. By promoting diversification and appreciating the distinct attributes of every cryptocurrency, investors are manoeuvring through a terrain brimming with possibilities and risks.

Ethereum’s net supply totals 1.1% each year. In comparison, 1.84% is currently burnt yearly. A report from Coinbase’s Cryptocurrency Market Outlook has explained that the competition between the two major cryptocurrencies (BTC and ETH) will go through an arduous process in 2024. The report also said Ethereum’s transaction revenues have declined by only 29%. This is when compared to the transaction recorded 11 months ago.

Maria Bartiromo

Maria Bartiromo

Maria Bartiromo is a renowned news writer and journalist, celebrated for her insightful reporting and authoritative voice. With a career spanning years, she has established herself as a trusted source of accurate and comprehensive news analysis, keeping readers informed on vital global developments.

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