The crypto bear market seems to have continued through this week. Most cryptos have mixed feelings as some held their respective support areas like Ethereum, while others sank below like Bitcoin. In this Ethereum price prediction article, we take a look over whether Ether will crash or stay in consolidation. We’ll also see whether it’s better to hold Bitcoin or Ethereum during this market crash. Is ETH better than BTC? Let’s find out 😉
Ethereum prices kept their 1K support
When the crypto market crashed hard 2 weeks ago, Ethereum prices sank below the psychological price of $1,000 and reached a low of $875. However, this only happened for one day as ETH prices quickly recovered above 1K, Most traders debate that this was just a mere fakeout On the other hand, other traders look at Bitcoin prices and argue how BTC is currently below $20,000 for the second consecutive time. The rationale behind this is that Ether prices are going to follow and drop soon.
For the time being, Ethereum prices stayed above the 1K support area and simply faked their previous break. However, if we see BTC prices down to $18,500 again, Ethereum should follow and break this strong psychological support of 1K.
Ethereum Price Prediction – Will Ethereum price CRASH?
It is certain that if cryptos and Bitcoin specifically continue to be bearish next week, Ether prices are going to sink below 1K. The first target would be the previous reach of $875. The other possibility would be that Bitcoin recovers again above $20,000. This is not impossible, as we just received the news that the EU agrees to regulate the crypto space. This positive reinforcement would stir a confidence boost in investors’ buying power and bring prices upwards.
In this case, Ethereum can easily climb and reach the upper target of $1,230 as shown in figure 2 below.
Is ETH better than BTC today?
There is no doubt that cryptos in general are all down in the year 2022. But again, most stocks are also down in the US. It is important to know that there are always ups and downs in any market. For Ethereum and Bitcoin specifically, we can see in figure 3 below that Bitcoin lost less than Ethereum during the crash. This is represented by falling Ethereum prices compared to Bitcoin prices.
In fact, Bitcoin dropped by 72% while Ethereum dropped by 78%. You might think that this is not very significant, but taking into account larger amounts invested, this can be quite a big deal.