Lark Davis, a prominent crypto influencer, recently posed a thought-provoking question on Twitter about the possibility of Ethereum (ETH) surpassing Bitcoin (BTC) in terms of market cap to become the biggest cryptocurrency. Currently, BTC holds a market cap of $400,248,946,999 while ETH’s market cap is estimated to be $187,081,203,401, according to CoinMarketCap. With this significant difference in market caps, it seems unlikely that ETH will overtake BTC anytime soon.
Both BTC and ETH have experienced a decline in prices over the last 24 hours, with BTC down 0.59% and ETH down 1.37%. At the time of writing, BTC is priced at $20,778.45 and ETH at $1,528.77. Despite these fluctuations, BTC still maintains a comfortable lead over ETH in terms of market cap.
Analyzing the weekly charts for BTC/USDT and ETH/USDT, it is observed that BTC is nearing a major weekly resistance level at $21,214.67 and has broken above the 20-week EMA line, signaling a bullish trend. The MACD indicator for BTC also suggests a positive outlook with the MACD line positioned above the MACD signal line, indicating a potential breakthrough of the resistance level.
Similarly, ETH’s price is trading above the 20-week EMA line due to increased buy support in the market. The coin is now aiming to break the 50-week EMA line and overcome the resistance level at $1,939.62. However, investors are advised to conduct their research and due diligence before making any investment decisions, as market predictions are subject to fluctuations and risks.
In conclusion, while the question of whether ETH will surpass BTC in market cap remains a topic of debate among crypto enthusiasts, the current market trends suggest that BTC maintains a stronghold as the leading cryptocurrency. Both BTC and ETH are experiencing price fluctuations, with BTC showing signs of bullish momentum and ETH striving to overcome key resistance levels. Investors should remain cautious and informed when navigating the volatile cryptocurrency market to mitigate risks and make informed decisions.
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