InvestAnswers, a popular crypto analysis and market commentary show, believes Ethereum’s upside potential surpasses its downside risk, and expects a rough month for Bitcoin.
The host of InvestAnswers said in a recent YouTube video that Ethereum’s chart shows a combination of support and resistance levels, but that the upside ultimately exceeds the downside.
The show’s host, according to The Daily Hodl, said:
“I feel the potential upside of 60% to return to all-time highs well outweighs the potential downside of around $2,400, or 20% from where we are now.”
“You have to weigh things from that standpoint.” Do you believe you could get on a quicker horse? What happens to your taxes if you sell? How much do you earn?
InvestAnswers On Ethereum
While Ethereum’s price has slowly recovered since plunging to $2,200 in late January, it is still a long way from its all-time high of $4,800 set in November 2021.
The host of InvestAnswer claimed to be still positive on Ethereum, calling it a “beast” of a crypto asset.
The bulk of initiatives in the crypto business operate on Ethereum, according to the expert, with layer-2s introducing a new wave of utility.
However, the host stated that Ethereum might “slowly be nibbled away” by some of the other layer-1 solutions available.
Conclusion
Finally, InvestAnswers also addressed Bitcoin’s prospects, noting that the leading cryptoasset by market capitalization has a history of having a bad month in March.
The show’s host predicted that March “may be difficult,” citing the potential negative impact of the US Federal Reserve meeting next month, as well as global upheaval.
Also Visit: Pantera Capital Predicts Impact of the Fed’s Upcoming Rate Hikes on Crypto Market
