Why Ethereum Will Beat Bitcoin in 2023
The cryptocurrency market is facing a rude awakening as the shocking collapse of FTX, one of the largest exchanges in the world, shines a light on just how risky, complex, and untrustworthy the industry is. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have seen their prices drop roughly 10% (as of this writing) since the announcement on Nov. 9 that Binance was backing away from its deal to buy FTX. Critics are doing a victory lap, celebrating the demise of crypto as we know it.
The two top cryptocurrencies, however, aren't going anywhere anytime soon, and they could both bounce back nicely next year, despite the overall industry's current turmoil. But will Ethereum produce a better return than Bitcoin in 2023? Let's take a closer look.
Compared to Bitcoin, Ethereum has some important characteristics that could allow the price of ETH, which is now around $1,205, to soar next year. The most obvious is the network's recent upgrade, called The Merge, which transitioned Ethereum from an energy-intensive proof-of-work system to an environmentally friendly proof-of-stake mechanism.
Source Fool.com
