logo |

News

    Home   >     Industry    >     Main body

    How Ethereum has outperformed Bitcoin by 250% since inception

    Abstract:How Ethereum has outperformed Bitcoin by 250% since inception
    hj.jpg

      With a 3,7% loss in the last week and 2.7% in the last hour, Bitcoins price sits near critical support. On the other hand, Ethereum managed to climb to a new all-time high and sits on top of two fast-growing sectors: DeFi and NFTs.

      Former Goldman Sachs Executive Raoul Pal has shown data to demonstrate that throughout its history, Ethereum has outperformed Bitcoin by 250% in the trading pair ETH/BTC. According to Pal, the cryptocurrency “only fell” against BTC 5 months after its inception on August 6th, 2015. He added:

      Let that put rest to the idea that all other tokens trend towards zero in BTC terms.

    Ethereum

      Source: Coingecko

    Ethereums network effect impacts its price

      According to Pal, the only tokens that trend down when compared to Bitcoin are those unable to “get network effect”. Former Goldman Sachs executive claimed:

      Tokens that fail to get network effects trend lower, tokens that achieve ecosystem network effects (active wallets + developers + apps) will likely rise in BTC terms over time.

      Therefore, he recommended investors keep a “basket” of cryptocurrencies. However, for Pal, there is “no science and zero value” when choosing a cryptocurrency to add to its portfolio. He revealed his basket is composed of 10 cryptocurrencies but failed to mention any by name.

      Previously, Pal made a bullish case for Bitcoin as a store of value due to a “talk from the IMF (and the U.S.) of a new Bretton Woods” system. Established after World War II, the Breston Wood payment system set the rules for international trading and financial relationships for decades.

      Current U.S. Secretary of Treasury Janet Yellen expressed her desire to “worked” with their allies to dictate what Pal thinks is a “global fiscal initiative” and keep the USD strong. In return, many currencies could face debasement.

      Predicting a “big change upon us”, former Goldman Sachs executive believes investing in technology and Bitcoin will work as a “life raft”. Pal added:

      Debasement is the enemy, and an overhaul of the global economy is the prize. Its a fine line. We can hedge the risk with Bitcoin. global growth could be unexpected prize as stimulus drives economies to modernise, digitise and re-tool for the future. It is possible but far from certain. But I think the bet of BTC + Technology investing (including digital assets) will be the best way to prosper.

      At the time of writing, BTC trades at $56.187. On the other hand, ETH trades at $1992,73, over the past year this cryptocurrency shows gains of over 1.073%.

    Ethereum

      ETH with small losses in the 24-hour chart.

      Source: ETH/USD Tradingview

        =================

        WikiFX, a global leading broker inquiry platform!

        Use WikiFX to get free trading strategies, scam alerts, and experts experience!

        ╔═══════════════════════╗

        Android : cutt.ly/Bkn0jKJ

        iOS : cutt.ly/ekn0yOC

        ╚═══════════════════════╝

      choose

    New Zealand Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    New Zealand Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.