Swope Sold Bitcoin In Order To Buy Altcoins!

Tyler Swope sold Bitcoin in order to buy Altcoins! The senior analyst explained which altcoin it is.

Top analyst Tyler Swope from Chico Crypto explained why he is selling Bitcoin (BTC) to buy more Ethereum (ETH) to his subscribers and shared his prediction on the potential price of the leading altcoin Ethereum. While BTC price fell 7% above $42,000 to return to the “uneasy range” of $39,000, at the same time Ethereum was climbing from under $2,450 to $2650 at the time of writing. Renowned analyst Tyler Swope says the following on the subject: “Ethereum will fluctuate after EIP 1559 and threaten to flip BTC upside down by market cap!! They call it a “turn-over” and it's very close to happening. This breakout with ETH, while Bitcoin is falling, also increases the number of Bitcoin rates even more and It crosses 0.066 for the first time in months." Swope then highlighted 3 areas where Ethereum has already converted Bitcoin. The first is in terms of Blockchain placement. According to renowned analyst and trader Swope, ETH is basically set at 22 billion for Ethereum, more than 3 times the value of Bitcoin, versus 6.7 billion for Bitcoin. Swope said the following: “Looking back, it has been like this all year, the economic activity of Ethereum was higher than BTC and it was at its widest in May! Frankly, Ethereum facilitates much more economic activity on its chain with all NFTs, DeFi etc! "

What Can ETH Do Against BTC?

The second notable metric is the number of transactions per day. Trader Swope points to data showing that Ether currently handles an average of more than 1.25 million transactions per day. Bitcoin has about 238,000 transactions, meaning that Ethereum generates 425 percent more transactions daily than Bitcoin. And the last is the level of transaction fees. The famous analyst also predicts that Ethereum will soon overtake Bitcoin in the number of active addresses. Swope said the following: “Ethereum addresses are used over and over, while Bitcoin addresses are often much less used, like okay after one time… so this category is a much tougher transition! But in late June, Ethereum reversed this for the first time, having more active addresses than BTC. It took a while, but it happened, and it's just proof of a trend.”