"Ethereum (ETH) Extremely Undervalued Compared to Bitcoin... Will It Rebound Like Before?"
Minseung Kang
Summary
- CryptoQuant analyzed that Ethereum is currently extremely undervalued compared to Bitcoin, which is the first time since 2019.
- It was stated that in such undervalued conditions, there have been cases where Ethereum recorded excess returns in the past.
- However, it was added that selling pressure on the supply side, weak demand, and slowed network activity may delay the rebound.
Ethereum (ETH) has entered an extremely undervalued zone compared to Bitcoin (BTC) for the first time since 2019, according to analysis.
On the 8th, the virtual asset (cryptocurrency) analysis platform CryptoQuant stated through X (formerly Twitter) that "Ethereum (ETH) is currently extremely undervalued compared to Bitcoin (BTC), a level not seen since 2019," adding, "In past cases, Ethereum has shown a trend of recording excess returns after such zones."
However, it is also pointed out that other conditions in this cycle may act as variables. CryptoQuant added, "Selling pressure on the supply side, weak demand, and slowed network activity may delay the rebound."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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