The Bloomberg report, which presents the outlook for the cryptocurrency market, shows that the controversial stablecoin Tether will outperform Ether in terms of market capitalization. Apparently it’s only a matter of time …
Tether vs. Ether
Let’s take a look at CoinMarketCap, a portal showing cryptocurrency market data. The capitalization of Ether today is USD 26 947 634 946. In turn, Tether today boasts the result of 9 194 985 344 USD. Until recently, stablecoin was lower in the capitalization ranking. The third place was almost traditionally held by XRP, the Ripple token (today with capitalization of USD 8 979 577 277). The “exchange” took place relatively recently.
It’s just that Bloomberg thinks that Tether will continue to grow in strength. As one of the main factors affecting this phenomenon is considered “Interest in digital connections” between BTC and dollar.
“With the unexpected reversal of dominant cryptocurrency trends, it should take some time before Tether passes Ether to finish second in total capitalization. (…) not much [czynników] may halt the growing adoption of dollar-related stablecoin “
– experts add
At the same time, the report claims that Ether lives in the shadow of Bitcoin:
“We only see a slight increase in the ETH price without a rising BTC. An outstanding cryptocurrency [czyli BTC] it breaks away from the rest in terms of adoption and is supported by almost perfect macroeconomic conditions (…) in terms of quantitative easing. “
Remember, however, that both Bitfinex and Tether have recently had legal problems that can be a real challenge for their future market success.
It is worth adding that Bloomberg Intelligence strategist Mike McGlone believes that this year we will pay as much as USD 20,000 for BTC.
“60 percent each fall in 2014 until the end of 2016, the cryptocurrency reached the summit of 2013. We are rewinding [wykres] forward four years and [widzimy, że] second year after almost 75 percent the fall in 2018, we think Bitcoin will approach a record level of around $ 20,000 if we follow the 2016 trend. “
– he stated.
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