The crypto markets have been trending sideways for the past 6 months. After the huge downturn of 2022, this lateral market action is pretty captivating. It allows investors to make market entries while expecting the next bullish cycle.
Usually, Bitcoin is the one leading these bull runs and precedes the rest of the crypto space when it comes to profits. As such, many are using an ETH to BTC calculator to predict their profits once the market takes an upward swing.
This article will help you assess whether an ETH to BTC exchange can be profitable at this time. To achieve this, we take a look at some of their fundamentals and analyze their price forecasts.
As the pioneering smart contract platform, Ethereum has been able to stay on top of the blockchain industry. Even though we saw an emergence of multiple “ETH killers,” the network has managed to conserve its traction during the bear market.
This has been mainly due to continuous work from Ethereum developers who have relentlessly provided huge upgrades to the blockchain. The switch to PoS has been a resounding success, as well as the EIP1559 proposal that made ETH a deflationary asset.
In the future, we can expect additional scaling solutions such as sharding. While the shift to PoS hasn’t really managed to push gas prices down, sharding is supposed to completely solve this issue in the future. In layman’s terms, sharding will allow the creation of multiple, interoperable sidechains that will alleviate the strain on the Ethereum blockchain. To continue our ETH vs BTC comparison, let’s take a look at some price forecasts.
ETH Price Prediction
As DeFi becomes more mainstream, many are expecting higher adoption of the Ethereum network. And with this adoption, price analysis websites provide quite a bullish view for ETH.
For example, priceprediction.net gives a target of $2,335.71 for 2023, a 40% increase from the current price. In the next bull run, the website forecasts a price of $5,124.95 for 2025, surpassing its all-time high.
Bitcoin remains the market leader by a large margin. As the original cryptocurrency, it benefits from its longevity and the Lindy effect. This provides trust to both institutional and retail investors as they believe in its staying power.
What’s more, Bitcoin is facing several advancements in its ecosystem. One hot topic in the blockchain industry is the BTC spot ETFs. Unfortunately, the SEC has, until now, delayed any spot ETF for BTC. However, rumors seem to show that the governing body will eventually approve these financial instruments.
This could cause a significant injection of funds into the Bitcoin ecosystem from mainstream investment bodies like pension funds. ETFs would allow the average Joe to hold BTC without having to worry about self-custodianship.
Another major change in the Bitcoin space is the upcoming reward halving. Planned for April 2024, this event will reduce block rewards by half. What’s more, it usually precedes bullish cycles for the asset.
BTC Price Forecast
Considering the bullish events for Bitcoin, it’s to no one’s surprise that websites like priceprediction.net see a positive outcome.
For 2023, the website predicts BTC will manage to reach $37,299.27, a significant price increase from the current $26,500. In the long term, they expect the asset to exceed its previous all-time high and make it to $78,762.53.
ETH to BTC: Market Analysis
Ethereum and Bitcoin have a long price action history. That said, it’s interesting to analyze their performance in the past, as history might repeat itself.
During its first bullish cycle, Ethereum reached an all-time high of $1,700 in 2017. This price retraced significantly, as low as $150 in 2020. However, the following bull run put ETH as high as $4,891. Currently, the asset is trading at around $1,650.
For the same period, Bitcoin first reached an ATH in 2017 of $19,000. The following bear market pushed prices as low as $3,300. Then, the 2021 cycle brought a new all-time high of $69,000.
ETH to BTC: Get Your Profit from Exchange
Exchanging ETH to BTC now may be considered a smart move by many. Although ETH still has a lot of upside, it seems that Bitcoin is paving the road to another bull run. Additionally, BTC usually front-runs the market, meaning it’s the safer asset to invest in at this point.