Ethereum Price Analysis: ETH is ten times more profitable than Bitcoin in 2020
Since the start of the year, Ethereum investors earned nearly ten times more than Bitcoin hodlers. The second-largest digital asset has gained over 55% in 2020, while Bitcoin is only 6% higher from the first of January 2020. ETH/USD has grown by 4% since the start of the day and become the best-performing crypto asset out of top-10.
At the time of writing, ETH/USD is changing hands at $196.00. It is moving within a short-term bullish trend amid high volatility.
According to the Wale Alert Twitter bot, large cryptocurrency investors known as whales moved over 1.2 million ETH coins in eight transactions worth $241,774,447 in the recent 20 hours. The fee for each transaction did not exceed $1, and all of them were made from unknown wallets to other unknown wallets.
Such whale activity may be a precursor of large market movements.
ETH/USD settled above daily SMA100 (currently at $186.00) and continued gaining ground. Now that psychological $190.00 turned from a resistance to support level, ETH has a chance to retest $200.00 in the nearest sessions. If this critical barrier is broken, the buying pressure will increase with the next upside target as high as SMA200 at $248.00 and $250.00.
On the downside, a sustainable below daily SMA100 will negate the immediate bullish scenario and bring $180.00 back into focus. The critical support is created by the upside trend line from March 13 low (now at $175.00). The long-term recovery remains valid as long as the price stays above this trendline.
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Bitcoin, Ethereum and Ripple whales move $358 million – sell off coming?
- Bitcoin, Ethereum and XRP Wale are moving large volumes worth more than $358 million and causing a lot of discussion in the community.
- Experts are currently discussing whether Bitcoin can maintain the current price level of $7,500 and will start a further upward trend.
The Bitcoin price rose yesterday from $7,100 USD to $7,700 USD, and at the time of writing stands at $7,535.83, up 0.64% in the last 24 hours. The market capitalization of BTC has increased from $130 billion to almost $138 billion.
Yesterday, Bitcoin and Ethereum Wale moved large transactions worth more than $358 million. An ETH whale sent $182 million in five separate transactions between wallets of unknown origin. The largest single transaction moved 273,712 ETH worth $51 million. In addition, 23,544 BTC worth more than $176 million were moved.
🚨 🚨 🚨 🚨 🚨 273,712 #ETH (51,647,144 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 24, 2020
The data analysis service Whale Alert reports that eight of the recorded transactions Bitcoin and ETH from unknown wallets have been sent to exchanges, so that some whales may be preparing to sell some of their stocks. However, a $10 million XRP 55 million transaction is safe, as it was moved between internal ripple wallets.
Transaction Type: Payment
Amount: 55,000,000 XRP
Fee: 100 drops (0.0001 XRP)
Sender Balance: 14,107,615.129711
Receiver Balance: 57,711,322.303798
— XRPL Monitor (@XRPL_Monitor) April 23, 2020
The experienced Bitcoin trader Big Chonis Trading describes that Bitcoin is showing a positive development for the sixth week in a row since the low in mid-March of almost $3,800 on the weekly chart. In his opinion, Bitcoin will decouple itself from the stock market and show its own performance development, independent of the price development of the stock market.
Current weekly chart, 6 green in a row … EMA26 resistance., weekend means $BTC on its own, I think this will eventually turn #bitcoin into more of a leader than a follower with equities over time pic.twitter.com/5lnhzbKP9F
— Big Chonis Trading😷 (@BigChonis) April 25, 2020
Crypto-Trader Teddy explains on Twitter that Ethereum has shown a strong recovery since the low in mid-March and has risen by more than 30% since then. Nevertheless, he points out that the newly formed support levels have not yet been tested and that these will have to prove themselves in case of an emergency. Nevertheless he draws a bullish scenario for ETH.
Incredibly strong recovery here, nearly 30% from the local bottom.
However, genuinely concerned about those resistance levels that were never tested as support – rules are rules, gaps eventually always get closed.$ETH pic.twitter.com/M3aMikc8Kq
— Teddy (@TeddyCleps) April 24, 2020
The research and analysis company Arcane Research describes that the FED (Central Bank of America) continues to print money without an upper limit, but for Bitcoin havling is next. The institution sees this event as a good opportunity to attract new investors and thus attract fresh capital to the market:
While FED is printing money, Bitcoin has different plans with an upcoming halving in just three weeks. This will cut the yearly production in half, from 12.5BTC to 6.25BTC per block. This quantitative hardening may attract new investors to bitcoin, as ‘the money printer’ keeps running at full speed.
Experts in the industry are currently in dispute whether the halving is already priced in. It remains to be seen whether the halving will have a positive effect on the Bitcoin price. Follow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices?
Last Updated on 25 April, 2020
Author: Collin Brown