Bloomberg: Ethereum’s Rise is Speculative While Bitcoin’s Price Is Based on Fundamentals
Cointelegraph
Published Aug 05, 2020 05:21PM ET
Updated Aug 06, 2020 02:40PM ET
In its August crypto outlook, Bloomberg remained unimpressed with Ethereum, calling its rally “speculative”. The publication contends, however, that Bitcoin’s (BTC) rise is based on solid ground:
The report points out that Ethereum faces “plenty of competition from similar crypto platforms and about 6,000 tradable coins.” On the other hand, Bloomberg has remained consistently bullish about Bitcoin, noting its gold-like qualities and increased institutional demand.
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Written By: Cointelegraph
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