Analysts divided over ether and bitcoin performance race

<img width="562" height="338" src="https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E.jpg 880w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-730×438.jpg 730w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>André Dragosch, head of research at ETC Group, predicted that ether will outperform all other ETFs during 2024, specifically overtaking its ultimate rival, Bitcoin (BTC). Dragosch also noted that ether will able to reserve the underperformance it has seen this year with a new deflationary burn mechanism launched in August 2021, Improvement Proposal EIP-1559. The mechanism aims to reduce the global supply of ether and push the price skywards. The coin is currently the second-largest cryptocurrency worldwide.</p>
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<p>On the other hand, Cathie Wood, chief executive at ARK Invest, vouched for Bitcoin to maintain its first-place title, predicting an uptick on TradFi (traditional finance) following the approval of the spot Bitcoin ETF – the price will accelerate if TradFi allocates a minimum of 0.1% capital to Bitcoin.</p>
<p>However, this acceleration will only remain stable if the global Bitcoin supply is capped at 21 million tokens. As with all currencies – cryptocurrency included – a reduction in supply causes the price to rise.</p>
<p>David Schwed, a blockchain security specialist and Holborn chief operation executive, sided with Wood, estimating that ether is no match for Bitcoin’s longevity in the crypto world. It seems many market analysts outside of the ETC Group content Dragosch’s view that ether will, inevitably, win the crypto race. Halving the Bitcoin rewards miners earn for every completed block will, according to Wood, reduce from 6.5 BTC to 3.125 per block, thus reducing increased demand and inflationary risks.</p>
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