Crypto winter offers entry points for Wall Street firms? Here are key factors shaping institutional adoption
Bitcoin outperforming ether?
Bitcoin is likely to outperform Ether by 33% over the next three months, according to the analysis by artificial-intelligence-driven screening platform Toggle.
The platform examined the ratio of bitcoin’s price to that of ether, which in November reached the lowest level since 2018, while Toggle expected to see an upward trend in the near term.
“This is simply saying, if you are looking to get into cryptocurrencies and you don’t know which one to buy, maybe actually your bet here should be on Bitcoin outperforming relative to ether,” Jan Szilagyi, Toggle’s co-founder and chief executive, told MarketWatch in an interview.
“You may as well consider buying both but if you only are going to buy a one or if you are even trading cross, the system has highlighted that the odds seem to be skewed in favor of Bitcoin outperforming ether,” Szilagyi said.
However, Szilagyi noted that the analysis is primarily based on past price data. As digital asset is a rather nascent industry, “we’re still coming to terms with what are the actual drivers of a lot of price action of cryptocurrencies,” Szilagyi said.
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