Will 2024 be the year of Ethereum? Will ETH Be Able to Overtake Bitcoin? Analyst Answers!

In 2023, cryptocurrencies, especially Bitcoin, experienced good rises. At this point BTC is up 160%, while the largest altcoin Ethereum** is up 97%.

While the rise in ETH remains lower compared to Bitcoin, this suggests that ETH is underperforming Bitcoin in 2023.

However, in 2024, this situation may be reversed.

According to The Block, ETC Group said in its report that Ethereum could outperform BTC in 2024.***

André Dragosch, Head of Research at ETC Group, stated that ETH's bullish performance will be supported by technological advances and Ethereum's position as the leading smart contract platform.

"Ethereum has underperformed Bitcoin over the past 12 months. However, this situation can be reversed.

Ethereum may outperform Bitcoin in the coming year.

Combined with the reduction in > ETH supply ETH the attractiveness of staking returns, the largest altcoin, Ethereum, could outperform Bitcoin.

Ether's net supply issuance is -1.1% year-on-year, as about 1.84% of the annual supply of ETH is currently burned."

Arguing that ETH will return to its high performance against Bitcoin, Dragosch pointed out that with the exception of 2023, Ethereum has consistently outperformed BTC since its inception in July 2015, and ***"Bitcoin's 12-month relative performance shows a strong trend that historically means a reversal." Said.