Will Ethereum September Value Exceed Bitcoin’s? Unlocking the Future’s Prospects

Will Ethereum September Value Exceed Bitcoin's Unlocking the Future's Prospects

The article Does September Hold Promise for Ethereum, Which May Outperform Bitcoin ? The post Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide – Decoding the Possibilities appeared first on

The cryptocurrency market was struck with a significant amount of selling pressure during the past weekend, which resulted in Bitcoin, Ethereum, and other major cryptocurrencies reaching their annual lows. Bitcoin was one of the cryptocurrencies that took one of the biggest hits, and experts anticipate that its value will remain relatively unchanged during the month of September.

In the meantime, the next few days will be focused on Ethereum due to the anticipated merging. This will complete Ethereum’s move from proof-of-work (PoW) to proof-of-stake, therefore it will be the primary topic of attention during this time (PoS). Because of this factor, many people believe that Ethereum will take the lead in the cryptocurrency industry in the days and weeks to follow.

On the other hand, the trajectory of Bitcoin’s price has not met expectations in recent times. Bitcoin Dominance is reaching multi-year highs, as stated by Joshua Lim, Head of Derivatives at Genesis Trading. This is despite the fact that the price of Bitcoin is moving in a downward direction. In addition, the ratio of ETH to BTC is currently at 0.0733, and the all-time high for the indicator sits at 0.0880.

When the selloff began in December of the year before, the indicator was rather close to the levels it is at now.

Traders and investors are keeping their fingers crossed that Ethereum will break beyond the $3,000 and $3,800 price points. The number of option contracts that are currently placed with bets on an increase in the cost of ETH is positioned at 3.4 million, while the number of option contracts that are currently placed with bets on a fall in the price is still at 808,396.

The Bitcoin dominance measure, on the other hand, has experienced a 40% decline. In the long run, anytime the cryptocurrency market is going through a negative correction, the dominance of Bitcoin has a tendency to increase. As a result, this has not yet taken place.

According to Lim, the recent rise in the price of BTC can be attributed, in large part, to the fact that entities have gained access to the asset. When companies believe that the macroeconomic environment may worsen, they liquidate their Bitcoin holdings.

Orizu Augustine
Orizu Augustine is an experienced crypto writer working for Alltechcraft. Having passion for writing, he covers news articles from blockchain to cryptocurrency and iPhone and Samsung related articles.