עטהערעום ס געבוירן סימען, יטער (עטה), could grow by 35% versus Bitcoin (בטק) this year to hit 0.1 BTC for the first time since 2018 as it forms a classic bullish continuation pattern.
Ethereum price must first break key resistance
דאַבד an ascending triangle, the pattern forms when the price fluctuates inside a range defined by rising trendline support and horizontal trendline resistance. It typically resolves after the price breaks out in the direction of its previous trend.
ETH “deflation” narrative
Notably, ETH’s market capitalization has risen to nearly 20.5% of the entire crypto market valuation in January 2023, from about 10% in December 2020, when the Ethereum network started its transition from דערווייַז-פון-אַרבעט (PoW) צו דערווייַז-פון-פלעקל (PoS) with the launch of a dedicated staking smart contract.
Becoming a PoS blockchain has brought two key changes to Ethereum’s economy. First, users temporarily lock away a portion of their Ether holdings into Ethereum’s PoS smart contract to earn yield. And second, the Ethereum network has started burning some transaction fees.
פֿאַרבונדענע: עטהערעום 'הייַפיש' אַקיומיאַליישאַן, שאַנגהאַי שווער גאָפּל שטעלן $ 2K ETH פּרייַז אין שפּיל
Both changes have had a deflationary impact on overall supply. As a result, the Ethereum network now regularly produces fewer Ether tokens than are taken out of circulation, which theoretically makes ETH a “deflationary” asset.
The ETH/BTC price has grown nearly 250% since December 2020 despite still being down roughly 50% from its all-time highs witnessed in 2017.
דער אַרטיקל כּולל נישט ינוועסמאַנט עצה אָדער רעקאַמאַנדיישאַנז. יעדער ינוועסמאַנט און טריידינג מאַך ינוואַלווז ריזיקירן, און לייענער זאָל דורכפירן זייער אייגן פאָרשונג ווען זיי מאַכן אַ באַשלוס.
Source: https://cointelegraph.com/news/ethereum-price-technicals-hint-at-35-gains-versus-bitcoin-in-2023