10.05.202119:00 Forex Analysis & Reviews: Ethereum catches up with bitcoin in capitalization

The decline in popularity and demand for bitcoin can be seen not only in the value of the cryptocurrency. If you open the news feeds, presently, 40% of the total number of messages is devoted to Ethereum. Unlike bitcoin, ethereum continues to grow in price, attracting the attention of investors and traders. Ether is also currently in the first place in popularity, since it is in it that funds are now being invested. The bitcoin dominance index, meanwhile, continues to decline and is already only 42.4%. While the ether dominance index is already 18.3%. The name "ether" is already associated with very famous personalities who openly declare purchases of this cryptocurrency. For example, not so long ago, Miami Mayor Francis Suarez, announced that in March of this year he bought both bitcoin and ether. He made this decision after the US Senate approved a new stimulus package worth $1.9 trillion. According to him, Americans do not want to keep their savings in the US dollar, so they buy cryptocurrencies. Suarez also added that Bitcoin has reached a level of community acceptance too high to be banned at the state level. Recall that the Mayor of Miami is a fan of cryptocurrencies and has previously proposed investing about 1% of the city's reserves in digital gold. Earlier, Francis Suarez announced the possibility of paying salaries to civil servants in bitcoins. The official also announced his intention to create a bitcoin mining center in Miami, since, in his opinion, about 90% of miners mine coins using "dirty energy" outside the United States.

At the same time, many experts are targeting the $10,000 mark on ethereum. It turns out very nicely. Most forecasts for bitcoin say $100,000 per coin, and for ethereum - $10,000. Experts expect that it will be on the air in the near future that large investors and institutions will reach out, since this cryptocurrency is also traded on the Chicago Mercantile Exchange, like bitcoin. Also, experts believe that bitcoin has found its fair value in the price range of $50,000 - $60,000, and investors are not ready to pay more at this time. Thus, it is elementary that the attention of investors switches to alternative coins, which, unlike bitcoin, continue to grow. It is also reported that the revenues of Ethereum miners in April increased by 19% and amounted to $1.65 billion.

Technically, everything looks even more convincing. Ethereum has been growing for 14 days in a row, and only during this time it has doubled in price. 2 times in 14 days. Thus, now there really is no doubt that the popularity of the second cryptocurrency is growing at a tremendous pace and may approach bitcoin within 2021. The price is well above the rising channel, which indicates a strong bullish market sentiment.