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Will Ethereum fare better than Bitcoin? Could it be a better investment choice compared to the flagship cryptocurrency? These questions frequently arise in the crypto community and among individuals looking to develop knowledge in the sector and get hold of cryptocurrency at some point, as more and more investors are considering the second cryptocurrency in popularity and looking tobuy Ethereum with bank transferbesides other payment options.

Since intelligent tools like ChatGPT and Google Bard have emerged, people have turned to them to tackle different topics, among which cryptocurrencys supremacy, or more precisely, the likelihood of flippening, has topped the list of interests. While there are some pretty convincing arguments for both sides, it is also helpful to consider public opinion and market sentiment to get a sense of how the competition between the two poster boys will play out. According to a recent survey among financial investors conducted by Fidelity Digital Assets, the outlook for Ethereum is more than bullish for 47% of the participants. Ethereum could overplay Bitcoin in the following 12 months, as per the opinion of almost half of investors. But what fuels their strong belief and trust in Ethereums future outstanding performance? Suppose youre a fervent supporter of Bitcoin, could now be the right time to switch sides?

The cryptocurrency market has been on a rough patch during 2022, being challenged by numerous scandals and rivalries that triggered the sectors stagnant instability. Bitcoin, Ethereum, and the whole host of other cryptocurrencies endured difficult times that pushed many investors to sell their digital coins to protect their portfolios from losses. But as history proves, financial markets with the cryptocurrency field included always bounce back, and bear runs are only foreshadowing bull periods. Ethereum has survived tough times and demonstrated its resilience over the years, securing its spot as the second-best cryptocurrency in popularity and market capitalization.

Ethereum was hovering around the $1.200 level at the end of the last year, maintaining this level well through the first month before starting to escalate. The trajectory has slowly but constantly improved, and it has registered impressive growth ever since, gaining 62% of its value so far and being expected to reach the $2.000 mark sooner rather than later. Such a scenario is not improbable. Ethereum has already succeeded in hitting the $2.000 threshold this year, representing an accomplishment that hasnt been realized since August of last year. More importantly, it overtook 100 cryptocurrencies in the given period, including the pioneer cryptocurrency, Bitcoin. This means investors confident in buying the dip last year when the market was struggling are now registering generous investment returns.

Bitcoin has followed a similar trend and registered notable gains over the current year, as many factors, like decreasing inflation rates and regulatory clarity, have helped the market improve. However, while both cryptocurrencies have rewarded those who continued to hold them in their digital wallets despite the past daunting times, Ethereum has succeeded in making quite an impressive performance once again.

The Merge update, released in September of last year, is one significant advancement made by Ethereum that cannot be ignored. It succeeded in completing an achievement that the world expects from Bitcoin, too: bringing down the energy consumption rate. Ethereum phased out the mining process and reduced electricity usage by almost 99.95%, according to Ethereums official website.

Other upgrades on the network cant pass under the radar, as they show how Ethereum continuously strives for improvements.

Not long ago, Ethereum completed the Shanghai and Capella updates, also referred to as Shapella after the merger of the names. The former was executed in April of this year and granted permission to Ethereum stakers to withdraw their locked-up coins from the blockchain network for the first time in 28 months. The upgrade triggered a price rise of more than $200 in the following days. Consequently, the Capella update worked on the Consensus Layer.

Even though some upgrades are non-events regarding cryptocurrency prices, the recent advancements of Ethereum seem to have borne fruit, pushing Ethereum higher and drawing the interest of speculators and investors in the crypto market. Following several upgrades, Ethereum is about to experience Dencun, a network improvement combining Cancun and Deneb. The process will create data blobs and significantly decrease the gas cost of transactions on Layer 2. Additionally, Ethereum will turn off the self-destruct mode that enables the development and erasure of smart contracts in a single transaction. Another series of network improvements are expected and highly anticipated by individuals who grow more comfortable and passionate about blockchain technology.

Ethereum has made a point out of striving for improvements, and as history shows, it has transformed ingenious ideas into reality. Its impossible to foresee how Dencun will impact Ethereums price. However, as security and scalability improve, more activity on the network is expected, which adds to Ethereums popularity and usability.

The blockchain of Ethereum advanced the technology and philosophy that Bitcoin provided the world in order to increase the number of real-world applications even more. It has consistently displayed strong fundamentals, solidifying itself as the top platform for creating and carrying out smart contracts. The impressive rise of decentralized finance (DeFi) over time and its implication in the financial system only led to a surge in Ethereums popularity and reliability, as this blockchain is a staple for emerging technology. Undoubtedly, among the most notable strengths of Ethereum is the background provided for the thriving DeFi sector. The growing interest in DeFi and decentralized applications (DApps) proven by the rising number of the networks active addresses serves as further evidence that Ethereum is well-liked, indicating persistent user engagement. Such achievements are strong indicators that the digital coin will resist time.

Additionally, Ethereum has a vibrant community that shares and works towards improving the network bit by bit. An outstanding level of engagement can be observed on cryptocurrency-related forums, chats, tweets, and other online channels where cryptocurrency enthusiasts gather to discuss different crypto-related topics.

Despite having grown by more than 60%, Ethereum still has a long way to go to achieve the all-time high reached almost two years ago. However, ongoing blockchain developments, increased network activity, a highly active community, and increased adoption are poised to affect Ethereum positively. For all these reasons, believing Ethereum could overtake Bitcoin sometime in the future is not far-fetched but somewhat plausible.

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