Ethereum was a ‘major disappointment’ amid Bitcoin-led cycle, economist weighs in
As the cryptocurrency market navigates through another volatile cycle, Ethereum (ETH) has become a focal point of discussion among investors and analysts, reflecting both concern and keen interest. The first quarter of 2024 marked record-breaking achievements for Bitcoin (BTC), with the highest monthly and quarterly closes ever observed. However, a significant downturn in Bitcoin’s value at the onset of Q2 has precipitated a steep decline across the crypto market, including a dramatic drop in Ethereum’s price below $3,000. Despite this turbulence, analysts maintain a hopeful perspective on the market’s potential recovery. In an Analysis of the current cryptocurrency cycle , economist Alex Krüger highlights the significant influence of Bitcoin ETFs, describing Ethereum’s performance as ‘a major disappointment ’ in comparison. Despite Ethereum’s struggles, the cycle has seen surprising dynamics across various digital assets. Picks...