Cryptocurrencies

With Bitcoin (BTC) and Ethereum (ETH) poised to explode, DeFi could slow down – Cryptocurrencies

Ethereum / Bitcoins

Bets on the annual closing price of the first 2 cryptos 2 months before the end of this year 2020 – which also includes also 2 digits “2” – are open.

Pub

Bitcoin (BTC) and Ether (ETH) are having a good October. BTC benefits from the support of the two payment giants, Square and PayPal; Ether continues to inspire confidence despite the decline in DeFi.

The bulls are ready to repeat their feat of 2017

October 2020 turns out to be more lively than the previous month for Bitcoin and theEther.

The announcement by PayPal the upcoming launch of its crypto service has enabled Bitcoin to cross the threshold of 12,000 USD and then 13,000 USD.

Analysts say all signs of a bull run in the BTC similar to that of 2017 are gathered in the markets.

According to a recent report by Finder in which 30 crypto experts participated, the Bitcoin could reach $ 14,283 by the end of 2020.

For one of the editors of Finder, Andrew Munro, the reputation of Bitcoin as a store of value instrument is one of the main reasons that convinces and drives investors to adopt it.

Bitcoin absorbs DeFi

The popularity ofEthereum is partially linked to the rise of DeFi. However, as the sector’s profits decline, investors share a positive outlook for theEther.

The average level of the courseETH cited by experts from Finder, is around $ 513 by the end of 2020. Experts, however, remain skeptical about the viability ofEthereum on the long term.

TheEthereum 2.0 is the most frequently cited factor in favor of the bullish forecast for theEther. However, many uncertainties surround the exact deadline and the finalization of this new version of the network.

Pub

Observers indicate that the influx of liquidity that DeFi benefited from is redirected to the markets BTC, a fact giving rise to many questions about the sustainability of the sector.

What does November hold for BTC and ETH? The entry of other strong supporters in the BTC markets, a revival of DeFi or major advances in Ethereum 2.0 for ETH? The US presidential elections, the increased risk of a second widespread reconfinement in northern countries, can either freeze the price of Bitcoin and Ether, or install spring months in advance. Stay tuned to Cryptocurrencies for the next weather forecast for the crypto markets.

Tags

Related Articles

Back to top button
Close
Close