In the new video, Guy Turner noted that the broadcast is significantly lags behind Bitcoin, especially in the last couple of months, although many analysts expected that the broadcast should grow after the first cryptocurrency.
“The broadcasting indicators are so bad that it is almost a meme, while Bitcoin updated the maximums and grew up very much. The broadcast is far from the maximum of 2021 $ 4,900. Of the large altcoins, they are now watching only the ether, but it could not break even $ 4,000 at the peak of this cycle. And if you look at the ETH/BTC graph, it becomes extremely clear the level of crisis. The schedule has been falling since September 2022 and so far there are no signs of a change in the situation. Everything looks very bad, ”the analyst said.
According to Turner, one of the reasons for the poor indicators of the etherium was competition, and both external and internal. He emphasized that in the ecosystem of the second cryptocurrency there are too many large players who compete with each other and fragment liquidity. It is also important that there are sufficiently strong external competitors, such as Solana, Binance Chain, Aptos and Avalanche.
“Another reason is the macroeconomic situation. High basic rates make government bonds more attractive. For example, US bonds offer an annual income of 4.28%, and you will receive only 3%for the eth steaking. Of course, Stayking is not too interesting to institutional investors, ”the host of Coin Bureau emphasized.
At the end of last year, Turner said that the Pectra update can help the Ethereum grow significantly.
Source: Bits
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