Ethereum reached its highest price in 6 months, outperforming Bitcoin during the same period.
The latest data shows Ethereum rising to $3,478.97, while Bitcoin struggles to surpass the $120,000 mark, causing skepticism about Bitcoin's next upward trend.
MAIN CONTENT
Ethereum reached its highest price in 6 months at $3,478.97.
Bitcoin has set a historical peak of $123,153 but later showed signs of correction.
Bitcoin not surpassing the $120,000 mark raises questions about its future price increase potential.
How has Ethereum outperformed Bitcoin in the past six months?
According to analyst Jinshi's report, Ethereum reached a peak of $3,478.97, the highest in the past six months, demonstrating superior strength compared to Bitcoin during the same period. Ethereum is currently trending to attract more interest thanks to robustly developed DeFi applications and Smart Contracts.
Ethereum is playing a crucial role in driving financial innovation and developing DApps across various Blockchain ecosystems.
Jinshi, cryptocurrency analyst, 07/17/2024
What challenges is Bitcoin facing after reaching a peak of $123,153?
David Morrison, a financial analyst at Trade Nation, notes that Bitcoin shows signs of weakness after reaching a peak of $123,153. Investors expect continued price increases, but Bitcoin has been unable to maintain levels above $120,000, leading to stagnation and profit-taking pressure in the market.
The ability to sustain Bitcoin's upward trend requires a new catalyst to unblock the market.
David Morrison, financial analyst, Trade Nation, 07/17/2024
Can Bitcoin maintain its growth momentum without new stimulating factors?
According to experts, without new supporting information or events, Bitcoin may struggle to maintain its upward momentum due to profit-taking pressure and cautious investor sentiment. This raises many questions about the sustainability of the upward trend in the near future, posing challenges in finding new driving forces.
Frequently Asked Questions
What does Ethereum reaching a peak of $3,478.97 mean for the market?
Ethereum's price increase indicates the growing appeal of the Smart Contract platform and DeFi applications, contributing to liquidity and the development of the Blockchain ecosystem.
Why is Bitcoin struggling to surpass $120,000?
Bitcoin often faces pressure from profit-taking and a lack of new stimulating factors, making it difficult for the price to surpass strong resistance levels like $120,000.
What factors are influencing the current price trends of Bitcoin and Ethereum?
Factors such as technological development, regulatory frameworks, market sentiment, and macro events all heavily influence the price movements of these two cryptocurrencies.
Does Bitcoin need a new catalyst to break through?
Experts agree that a major event or news, such as widespread acceptance or technological improvements, will drive Bitcoin to a more sustainable price increase.
Can Ethereum continue to develop beyond Bitcoin?
With a robust technological foundation and strong development of DeFi applications, Ethereum is likely to maintain its leading position in the cryptocurrency market in the near future.
Source: https://tintucbitcoin.com/bitcoin-tut-sau-dinh-xu-huong-nao/
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