"We focus on the primary market, and release the potential advantage of the coin circle every day, welcome the attention of the same good."
Bitcoin has mostly gone sideways over the past two weeks, prompting some traders to consider alternative cryptocurrencies such as Ethereum for greater profit potential.
Ben McMillan, chief investment officer at quantitative research firm Idx Insights, wrote in a note: "Our model is still fully taking on eth risk (while our Bitcoin model started reducing risk exposure last week), but we are starting to see a slowdown in belief buying. "Study.
The price of btc has been broadly flat over the past week, while eth is up 4% over the same period and solana's sol token is up 23%.
"Investors may be looking for a catalyst for a round of gains, but without such a possibility to leave Bitcoin vulnerable to a break below 60,000," Daniela Hatorn, an analyst at Dailyfx, wrote in an email.
Crypto research firm Delphi Digital wrote in a blog post on Thursday: "Normally, we tend to see some sell-off in BTC after hitting an all-time high because traders preemptively hype it. He was referring to traders dealing with advance information.
But some analysts expect further gains despite signs of slowing price momentum.
Crypto investment firm Stackfunds said in a note that "since mvrv [Bitcoin's market cap relative to its realized value] is currently trading at 2.72, well below its recent peak of 3.96 in February," crypto investment firm Stackfunds said in a note, "with [mvrv] retesting the 4.0 handle," as well as blockchain metrics that show strong bitcoin accumulation.
Bitcoin's two bull markets in 2021 are different from past years. Previous muyao shen reports also mentioned that a key difference is the reduction in volatility expectations.
The indicator shows the expected price volatility of the cryptocurrency, which did not spike when the price of Bitcoin hit record highs in April and October, suggesting that Bitcoin may be evolving into a more mature investment asset.
According to crypto data firm Skew, Bitcoin's three-month implied volatility (iv) — investors' expectations of how volatile prices will be over the next three months — soared during both bull and bear markets through 2021. But this year, a similar spike only occurred when the market crashed in May.
Some analysts remain bullish on Ether, the second largest cryptocurrency in the world by market capitalization. The price reached an all-time high of around $4,600 on Wednesday.
Global consultancy fundstrat expects Ether to rise to $4,951 with "little resistance" after recently outperforming Bitcoin and breaking through September highs.
Mark Newton, head of global technology strategy at fundstrat, wrote in a research note on Wednesday: "While weekly and monthly momentum does show overbought, it won't be a big deal until the recent technicals start showing signs of upside drying up." ” .
If price resistance close to 0.08 is broken, Newton also sees a further rise in eth relative to btc (eth/btc price ratio). Newton wrote: "At present, the most likely outcome is better performance, and then stagnation. ”
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