Bitcoin value is approaching $ 16,000, however it’s Ethereum that might shine in November

Bitcoin price is approaching $ 16,000, but it is Ethereum that could shine in November

The price of (BTC) is approaching $ 16,000 after hitting $ 15,960 on Binance. After the rally of the dominant cryptocurrency, analysts are now looking at Ether (ETH). The blockchain's native token has seen increased momentum in the past week. After underperforming BTC in October, the likelihood of a new ETH rally is gradually increasing.

There are two main reasons analysts believe Ether will perform well in the short term. First, the capital on the Bitcoin market could subsequently be transferred to ETH the announcement of Ethereum 2.0. Second, ETH recently tested a critical level of resistance, which increases the chances of a wider rally. Given that the altcoin market has historically recovered from an initial Bitcoin boom, the timing of an ETH uptrend is ideal.

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