Bitcoin and ETH both are at dominating the market in the term of the price increase. Bitcoin has been the favorite virtual currency of all time and ETH comes next to bitcoin. Although there are several factors that differentiate bitcoin from ETH, one thing is common between these two virtual currencies and that is the pace at which prices are increasing. At the start of 2021, bitcoin price rose by more than 40% and ETH more than 20%.
Most of the inventors are looking forward to knowing the right time to sell bitcoin. Bitcoin has surged more than the expectations in 2021 due to increased investment by governments and global companies.
Whereas the case in Ethereum is almost the same, ETH managed to achieve $ 1.1 K in 2021, ETH reached $ 1.4 K in past, and this was an all-time high. ETH is also at its best position after a long time. Experts conclude that it would be more beneficial to hold back these two cryptocurrencies because the chance for these currencies to escalate further is possibly high.
Differences between Bitcoin and Ethereum that many few people know
Bitcoin is a cryptocurrency that does not have a physical presence and Ethereum is just not only a virtual currency, it is a platform on which Ether is based. Ether is what we call a cryptocurrency and Ethereum is the platform that supports Ether. Same as bitcoin is a cryptocurrency and blockchain is a technology that backs bitcoin.
There is a difference in way of transactions. Bitcoin transactions are in monetary terms, whereas Ethereum transactions are based on executable codes. Bitcoin transactions take more time to process, as compared to Ethereum.
Bitcoin is considered as a “store of value” and medium of exchange and ETH is something different. Ethereum was not initially launched as a competitor to bitcoin, rather it was invented as a compliment to bitcoin.
Potential growth in bitcoin and ETH
Cryptocurrency has a bright future ahead, as the number of investors in the virtual currency market has risen over time. Bitcoin is absolutely an amazing investment opportunity and its growth is more likely to move upwards. The bitcoin market has been fueled by a huge chunk of investments by global companies. There multiple AI-equipped platforms like british bitcoin profit that encourage more people to invest in bitcoin.
ETH is not far behind the competition and the growth potential in ETH is understood by those who understand the Ethereum platform benefits and future. Ethereum is already a step ahead in the transaction process from bitcoin and in near future, the Etheurem network would be upgraded which bring a change in the transaction process. If the supply level reduced, there are chances that the price would escalate.
The cryptocurrency market is going to replace the traditional medium of exchange. Within a decade the dominance of virtual currencies would play a major role in monetary policy. The price level is most likely to rise as per most of the crypto market experts.
There are several other companies that would be announcing the investment in bitcoin in upcoming years. Out of 21 million, almost 18 million bitcoin has been mined yet, so there is still much left in bitcoin.
Ethereum network has more potential as compared to bitcoin, Ethereum network would be a game-changer in solving corporate problems, but as virtual currency, ETH might never surpass bitcoin.
Andrew is a writer that does most of his work on cryptocurrency-related topics. While he’s primarily interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain projects are bringing to the table.