Is It the Right Call to Convert BTC to ETH Now?

The cryptocurrency market has been experiencing a strong revival in the past month. Major coins are up 30% whereas some of the altcoins are making triple-figure percentile gains. 

Two crypto behemoths are towering over this market — BTC and ETH. These two cryptocurrencies are holding more than 60% of the total value of the market, making them the true blue chips for investors. 

And while it’s best to accumulate a bit of both in your portfolio, we created this article for those that wish to focus on only one. So, if you are wondering which one is better, BTC or ETH, you’ve come to the right place. We will review their fundamentals and price action to provide you with a reasonable prediction. This should give you enough information to make the decision of whether to swap BTC to ETH or not. 

BTC Review

Who hasn’t heard of Bitcoin yet? The original cryptocurrency started out in 2011 as obscure “ magic internet money” only to evolve into one of the strongest stores of value a decade later. Satoshi Nakamoto’s coin singlehandedly spearheaded the blockchain industry and created a new form of better, decentralized money. 

Today, BTC remains the most popular cryptocurrency, with the largest number of holders and users on a daily basis. What’s more, since it has proven such high resilience to bear markets, Bitcoin has been largely adopted by institutional and retail investors alike. 

That being said, BTC does have some shortcomings. It uses huge amounts of power to validate transactions and is not scalable for mass adoption. While it was imagined to become a peer-to-peer currency of the masses, its architecture just doesn’t allow this. Its protocol is intentionally slow to ensure its security, which hinders micropayments. 

With that in mind, solutions like the Lightning Network are providing Bitcoin users with a layer2 solution for fast and cheap transactions. The adoption of this technology could allow the original crypto to become much more useful in the long run. 

ETH Review

Ethereum is the pioneer of smart contract technology and has allowed blockchain to become much more than just a vessel for transferring value. Thanks to its Ethereum Virtual Machine, the Ethereum network acts as a global, decentralized computer where developers can deploy applications with various use cases. 

As such, it has allowed the rise of decentralized finance (DeFi), NFTs, blockchain play-to-earn games, and metaverse applications. While many competitors are following in its footsteps, ETH remains the firstcomer, with the most active developers and value locked in its dApps. 

What’s more, Ethereum has recently migrated onto a more scalable consensus mechanism and now uses proof of stake to validate transactions. While this hasn’t done any miracles for its high gas fees, developers are working on scaling solutions such as chain sharding. 

Crypto Price Prediction

So, which one between BTC and ETH has the most potential? 

BTC: Price Forecast

Bitcoin is the market mover and is currently trading at $24,690, a great price point to acquire BTC on an anonymous crypto exchange. 

Digitalcoinprice.com has optimistic views on the BTC price action for the near and far future. For 2023, the website sees BTC reach a high price of $54,322 at one point. While this is a very interesting target, the opportunity really shines in the long term. The analysts provide a target of $89,807 for 2025 and as high as $258,084.41 for 2030. 

Priceprediction.net has similar bullish views. The price predictions are as follows: $39,210 for 2023, $92,730 for 2025, and $593,034 for 2030. 

ETH: Future Price

Analysts are very enthusiastic about ETH as well. The coin is trading at $1,709 at the moment of writing. 

Digitalcoinprice.com gives an optimistic target of $3,716 for 2023. For the long term, they also provide positive estimations: $6,123 for 2025 and $17,731 for 2030. 

Similar forecasts are coming from Priceprediction.net, with a high price of $2,706.72 for 2023. However, in the long term, their targets are more bullish than their peers, with $5,924 for 2025 and $40,056 for 2030. 

Swap Your Crypto Now 

So, should you swap your BTC for ETH right away? Well, it depends on what you are trying to achieve with your investment. Both cryptocurrencies are bound to remain at the top of their game in the years to come. The opportunity in profit is similar in terms of gains. That said, ETH provides much more utility than BTC at this point, which might tip the odds in its favor in the long run.