When a week of July has already passed within the crypto market, cryptocurrency users begin to wonder in which currencies their capital is worth investing in. And in this regard, there are two strong candidates: the world’s first cryptocurrency, Bitcoin, and its closest competitor, Ethereum. Therefore, today we will analyze who started July stronger, Ethereum or Bitcoin.
What is behind Ethereum?
Of course, though the numbers are important in understanding where the crypto market is and where it’s going. The price of cryptocurrencies is but an expression of other trends, which define the direction that the price of an asset will follow, either upward or downward.
In the case of Ethereum, the cryptocurrency of Vitalik Buterin July begins driven by the next release of its new version, ETH 2.0. This is expected to substantially increase ETH’s capabilities, increasing transaction processing speed, and improving blockchain security.
This has generated great expectations within the crypto world. Which are combined with statements like those of Vitalik Buterin, announcing that the Ethereum Blockchain will have the capacity to process 100,000 transactions per second. Or data from DappRadar, which shows that 82% of all decentralized app-related transactions go through Ethereum.
All these data show the strength of the second cryptocurrency in the world. Attracting more and more investors from the crypto market, who see Ethereum as a safe asset in which to put their capital. Even in the face of the challenge launched by its closest competitor, Tron, about to launch a new version to compete with ETH 2.0.
Bitcoin after Halving
For its part, the cryptocurrency created by Satoshi Nakamoto it is also experiencing a crucial moment in its development. Well, the stagnation in the price of Bitcoin after having lived the third Halving within its Blockchain, has alerted the entire crypto world. Which is waiting for the side market to break at any moment, recovering BTC a bullish or bearish path.
These expectations are further fueled by the widespread belief among members of the crypto community that Bitcoin is about to experience a major bullish rally. Building on this, in the experience of the cryptocurrency after the last Halving on its Blockchain.
Thus, when observing the development in the price of BTC since its birth, it can be seen that the decrease in the rate of expansion of Bitcoin’s offer has always driven the price of virtual currency. Coming during the last major post-Halving rally, it peaked at around $ 20,000 per BTC.
For this reason, and when the market has been stagnant around $ 10,000 per BTC for weeks (unlike the Ethereum market on the rise). For most crypto world analysts, it should not be long before this trend breaks. And Bitcoin is recovering its uptrend, or at least starting to have a greater fluctuation in its price.
Who is stronger?
Therefore, and in this situation, we may wonder who started stronger in July, Ethereum or Bitcoin. And for this, it will be useful for us to observe the development of the price of Ethereum in relation to Bitcoin during the last week.
Thus, we can see that following the path marked by the individual price of each cryptocurrency, Ethereum has experienced a strengthening against Bitcoin during these first days of July. Reaching a price of 0.0255 BTC per ETH, from the 0.0245 it was trading just a few days ago.
For this reason, and in light of the fundamental trends in each cryptocurrency, we can say without a doubt that it is Ethereum that started July stronger. Also hoping that this trend continues for the time being, due to the expectations generated by ETH 2.0.
Unlike Bitcoin, a cryptocurrency that although many crypto analysts expect a new bullish rally alive. Until the side market breaks and the price starts to change again, we can’t be sure where it will go.