The crypto influencer, Lark Davis (@TheCryptoLark), tweeted this morning that the number of Ethereum (ETH) holders and the number of Bitcoin (BTC) holders both increased in 2022. In the tweet, the influencer stated that the number of ETH owners had increased by 263%, while the number of BTC owners only increased by 20% – suggesting that ETH is better than BTC.
Although the number of ETH owners increased far more than the number of BTC owners in 2022, BTC attracts more instituional investment that ETH. This was pointed out by the Twitter user, Use your Gray Matter (@DaDeepThinker), who replied to the tweet made by Lark Davis today by stating that “263% kids trading dinos vs 20% corporate investors.”
At press time, the crypto market tracking website CoinMarketCap shows that both BTC and ETH experienced 24-hour price gains. Currently, BTC’s price is up 0.94% to trade at $23,219.69. Meanwhile, ETH’s price is only up 0.06%.
Weekly chart for BTC/USDT (Source: CoinMarketCap)
BTC’s price has been in a multi-week positive rally, as can be seen by its weekly chart. This has pushed the price of the crypto market leader above the resistance level at $21,420 – ultimately flipping the level into support.
A major technical flag that investors and traders need to keep an eye on is the 9-week EMA crossing above the 20-week EMA line. This will be a major bullish flag that will result in BTC’s price targeting $24,870.
Weekly chart for ETH/USDT (Source: CoinMarketCap)
The 9-week EMA line is also looking to cross above the 20-week EMA line on ETH’s chart. This medium-term bullish cross will likely occur only once ETH’s price breaches the weekly resistance level at $1,740.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.