Ether is currently in the midst of a resounding comeback, reclaiming its standing in the cryptocurrency domain following a period of underperformance compared to Bitcoin. Analysts are expressing optimism about the crypto’s trajectory in 2024, pointing to key factors and processes that could position it to surpass Bitcoin.
ETC Group Analyst Bullish On Ether’s Future
André Dragosch, the Head of Research at ETC Group, is notably bullish on Ether’s future. Emphasizing its stature as a leading smart contract platform and highlighting ongoing technological advancements, Dragosch envisions a reversal of Ether’s underperformance against Bitcoin in 2023.
Despite ETH trailing Bitcoin in the past year, Dragosch identifies crucial elements from a recent ETC Group report, notably the deflationary “burn mechanism” introduced in Ethereum Improvement Proposal EIP-1559 in August 2021. This mechanism, designed to reduce the coin’s supply, is seen as a catalyst for a potential surge in it
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