While bitcoin has lost momentum for growth, ether quotes continue to update historical highs. According to Google Trends, user attention to Ethereum is currently at its peak, surpassing 2017 results. Some analysts point to Ether growth targets of up to $ 10,500 per ETH.
Should you switch from trading bitcoin, which can be frustrating, to trading ether? Or will Ethereum collapse if Bitcoin falls? The Fortrader issue was commented on by Leonid Delitsyn, an analyst at FINAM Group.
– The surge in interest on Google Trends means that the wider user community still thinks they don’t know what ether is. The broad masses have not been looking for Bitcoin for a long time, they think that they know what it is. Someone else is playing, maybe large institutions, maybe miners and exchange operators, but not millions of the world’s inhabitants.
The increase in the number of requests for ether does not mean that people are ready to buy ether, but that they want to understand what it is.
However, they are interested not just like that, but to decide whether to buy or not. This means that ether can repeat the history of the Bitcoin boom in 2017. Ether got a chance to become a “popular” currency and repeat the trajectory of the “cue ball” with colossal growth and subsequent collapse. Some of those who are now interested in ether will benefit – those who are lucky enough to sell the purchased cryptocurrency on time. Others who hope that the peak has not yet been passed will lose.
In the event of a fall in bitcoin, the options are different. If investors are afraid that the risks are systemic for all cryptocurrencies at once, then they will sell Bitcoin too. If it is believed that the fall in bitcoin is due to its specific problems, or someone proves that the algorithms used by ether are an order of magnitude more efficient than in the case of bitcoin, investors can shift. But the most favorable situation for the transition to ether is, rather, the stagnation of bitcoin, when the price stabilizes. Then those who want to make money will be shifted, especially if they find out that the world’s population is keenly interested in ether and is considering whether to buy it.