Ethereum To Overtake Bitcoin? Survey Reveals 47% Of Investors Are Bullish This May Happen In Next 12 Months
Portfolio Pulse from Benzinga Neuro
A recent survey reveals that 47% of investors anticipate Ethereum (CRYPTO: ETH) to surpass Bitcoin (CRYPTO: BTC) in value. The optimism is attributed to Ethereum's higher burn rate versus coin issuance, the 'new address momentum', and a growth in the number of network validators. Upcoming upgrades to the Ethereum network are expected to improve smart contract efficiency, reduce costs, and potentially recoup market share lost due to high gas fees.
July 19, 2023 | 4:10 am
News sentiment analysis
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NEGATIVE IMPACT
Despite being the leading cryptocurrency, Bitcoin could potentially be surpassed by Ethereum in value according to 47% of investors.
The potential of Ethereum surpassing Bitcoin in value could lead to a shift in investor sentiment and possibly a decrease in Bitcoin's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Investors are optimistic about Ethereum's potential to surpass Bitcoin in value due to its higher burn rate, new address momentum, and upcoming network upgrades.
The positive investor sentiment towards Ethereum, coupled with its higher burn rate and upcoming network upgrades, could drive its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100