Ethereum outperformed Bitcoin despite BTC Halving Hopes
Seven months after the Bitcoin network halved its miner rewards, BTC continues to trail ETH pricesover the same period, adding 200% versus 300% even without “halving” tailwinds in Ethereum. According to Joe Weisenthal, this goes on to prove that the halving thesis has failed even analysts assert that this year’s BTC price rally had factored in the early May 2020 event.
Impact on the ETH Price:
Neutral. Ethereum’s users are different from Bitcoin’s and the comparison, though good for portfolio holders, isn’t representative and doesn’t satisfactorily capture the drivers of each of the network’s valuation. Bitcoin is, for instance, deflationary, while Ethereum is inflationary with a budget set aside for its developers. This is just one of the many differences.
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