Since the beginning of the year, Bitcoin and Ethereum have spearheaded the entire market into another possible bullish cycle. Both of these cryptocurrencies managed to find decent support above crucial price levels. As a result, the market sentiment in the crypto industry has improved significantly, with increasing volumes and increased upside potential. In this article, we explore the latest price action from Ethereum and Bitcoin and try to assess whether it’s a good moment to convert ETH to BTC. To this end, we take a look at some price predictions for both cryptocurrencies and provide you with a secure platform where you can trade them.
What awaits ETH and BTC?
Bitcoin and Ethereum are both market drivers. Understanding their future price action should give you a good idea of the direction the entire market will take. To help you assess this, we explored some predictions from reputable sources around the internet.
ETH price prediction
In September 2022, Ethereum merged into a proof of stake mechanism, appreciated by both institutional and retail investors. However, even the merger wasn’t able to rectify the price action, and the value of ETH kept falling. The price has retraced quite significantly since the all-time high in 2021, even briefly reaching under the $1,000 mark at one point. Currently, the #1 smart contract platform cryptocurrency is trading at around $1,600.
Priceprediction.net expects ETH to reach $2,600 at one point during 2023. This is a significant increase from the current price level and could present a huge opportunity for investors. In the longer term, the website provides a price forecast of $5,134 for 2025. Digitalcoinprice.com has similar targets: $3,609.06 for 2023 and $5,946.13 for 2025.
BTC price prediction
The days when Bitcoin was comfortably trending above $50,000 are long gone. However, with the Bitcoin halving approaching in 2024, we should expect the price to start recovering significantly. Currently, the king of cryptos is trading at around $22,400, which is a significant increase since the two-year low of $16,291 reached in November 2021. History has proven that crypto markets are cyclical, and it seems that we are slowly moving out of the bear market.
Although the macroeconomic environment isn’t very favorable, Bitcoin might decorrelate from stocks and trace its own route. Priceprediction.net is very enthusiastic about Bitcoin’s future price. They predict a maximum price of $36,701.50 for 2023, a 56% increase from the current level. For 2025, their vision is even more bullish, with a target of $75,269.55, reaching above its previous all-time high. Digitalcoinprice.com goes even further, providing a maximum target of $51,568.27 already in 2023. Their 2025 forecast is $85,253.17, a 270% increase from the current price.
Reliable platform — Secure conversion
Converting Ethereum to Bitcoin has become a routine process for many traders. However, only a few provide the anonymity and security of Godex. This anonymous exchange focuses on privacy and allows users to swap ETH for BTC without having to create an account, share their personal data, or having to log in.
The streamlined interface only requires a crypto wallet to process transactions, rendering the entire procedure entirely private and secure. What’s more, the exchange provides fixed rates. This means that the price remains frozen at the moment you’ve initiated your transaction, shielding you from the volatility of the crypto market.
Is it time to convert ETH to BTC?
It can be challenging to find the right time to convert ETH to BTC. That said, Bitcoin seems ready to break out once again and start another rally. While Ethereum might eventually correlate with BTC, the latter remains the market leader.
The best approach is to keep some exposure to both assets, although Bitcoin still shows a better store of value and potential. This is mainly due to its higher decentralization compared to Ethereum, as well as its adoption from institutional investors.
Photo credit: The feature image is symbolic and has been done by Dmitriy Shironosov.