The fight for higher profitability between Bitcoin and Ethereum has been long-lasting. These two cryptocurrencies have the largest market share in the market and therefore the most supporters. Despite operating in the same space, the rivalry between them was unprecedented. It doesn’t just end with the networks themselves, but flows into the communities that support both assets as each claims to be superior to the other.
Bitcoin vs Ethereum
The profitability of these two digital assets has been immense in recent years. They have cemented their reputation as millionaire makers since their inception. Nevertheless, it remains a competition as to who is the better option when it comes to investing.
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Year-over-year, the newer and younger Ethereum has seen the most returns for investors, typically beating the pioneer cryptocurrency Bitcoin by more than double on various occasions. This has brought more investors and speculation that Ethereum is the better choice.
BTC falls to $29,000 | Source: BTCUSD on TradingView.com
This line of thinking is also supported by data showing investor profitability for both digital assets. Ethereum currently has 54% of holders making profits, outperforming Bitcoin holders. This is only a small margin, however, as 52% of BTC investors are making profits. This is also evident in the losing territory, where ETH and BTC investors’ losses are 42% and 43%, respectively. This means that both cryptocurrencies are almost equal.
Holding through the bear market
Both digital assets have a reputation for being good options to weather the bear market. But where Bitcoin shines through is its ability to fare better in downtrends in the market. During the last bear market, Bitcoin’s price had fallen by just over 80%, while Ethereum had seen a decline of more than 90%.
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Such is the case with the current bear market, where Bitcoin has once again proved itself to be better. Since the all-time high in November, BTC is down about 56%. However, the price of ETH has plunged more than 63% over the same period.
One thing remains constant between these two digital assets, and that is the fact that longer-term holders are more likely to make a profit than those who only choose to hold short-term. Wallets that have kept their cryptocurrencies for more than a year are more likely to be in the green than those that haven’t.
Featured image from The Guardian Nigeria, chart from TradingView.com
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