Top Traders Recommend Buying Ethereum Over Bitcoin Amid Crypto Market Stability

09.06.2024 09:52 70 times read Reading time: 2 minutes 0 Comments

Crypto Rally: Top Traders Confident - Buy Ethereum Instead of Bitcoin!

According to FinanzNachrichten.de, the recent correction in cryptocurrency markets has not extended further today. While Bitcoin remains stable at $69,000, Ethereum is trading around $3,700. Despite a 2.5% weekly gain for Bitcoin, Ethereum saw more significant profit-taking with a 3.5% decline over the week.

Top traders believe that Ethereum offers a better risk-reward ratio compared to Bitcoin and suggest accumulating ETH instead of BTC near its all-time high. Analyst K A L E O (@CryptoKaleo) predicts an increase in the ETH/BTC ratio soon, indicating potential high returns for projects based on Ethereum and alternative Layer-1 EVMs (Ethereum Virtual Machines).

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(S+) El Salvador as Laboratory for Bitcoin: Riding the Bitcoin Wave

DER SPIEGEL reports on El Salvador's experiment with adopting Bitcoin as legal tender. The article highlights mixed reactions from locals; while some embrace it enthusiastically, others prefer traditional dollars.

The report delves into how street vendors are adapting to this change and discusses broader implications for financial inclusion and economic stability within the country.

Bitcoin Over the Weekend - Analysis, Charts, and News from 08.06.2024

XTB provides an extensive analysis of Bitcoin’s weekend performance. The focus shifts towards whether BTC can break new all-time highs next week amid speculation about Federal Reserve interest rate cuts by year-end.

The technical outlook suggests testing previous highs around $74k-$80k is likely unless there’s a breakdown below key support levels like $65k or even lower at $60k, which might trigger short trades according to XTB analysts.

Speyer: Elderly Man Scammed Out Of Large Sum In Bitcoin Fraud

A tragic incident reported by BILD: An elderly man from Speyer fell victim to fraud promising substantial gains through bitcoin investments but ended up losing money instead. Fortunately, alert bank staff stopped further transactions just in time before more funds were lost. Police urge caution against such scams, advising never to send upfront payments to secure supposed winnings, always verify legitimacy first, and thoroughly check details provided by the scammers themselves. If unsure, seek professional advice immediately to avoid becoming another statistic of these increasingly common crimes targeting vulnerable individuals across the globe on a daily basis.

No Investment Advice According to the Securities Trading Act (WpHG)

The content on this website is solely for the information and entertainment of readers and does not constitute investment advice or a recommendation according to the Securities Trading Act (WpHG). The content on this website reflects only our subjective, personal opinion.

Readers are expressly encouraged to form their own opinions regarding the content of this website and to seek professional and independent advice before making any specific investment decisions.

We report on our experiences with the respective providers and receive commissions according to the partner conditions. Our test reports are based on real tests and are documented via screenshots. Proof can be requested at any time.

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Article Summary

Top traders recommend buying Ethereum over Bitcoin due to a better risk-reward ratio, with predictions of an increase in the ETH/BTC ratio. Meanwhile, El Salvador's adoption of Bitcoin as legal tender receives mixed reactions, and XTB analyzes potential new highs for BTC amid speculation about Federal Reserve interest rate cuts.

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The Best Bitcoin Mining Providers at a Glance

» Infinity Hash

From our perspective, currently the best mining provider on the market. With the community concept, you participate in a mining pool completely managed by professionals. A portion of the earnings are used for expansion and maintenance. We've never seen this solved as cleanly anywhere else.

» Hashing24

A well-known and established cloud hosting company. With a good entry point and in a good market phase, a good ROI can also be generated with some patience. Unfortunately, we see the durations as a major drawback.