Easy Ways to Convert ETH to BTC
With the crypto markets heating up, investors are looking at the best opportunities to convert ETH to BTC. That said, is this the right time to carry out this exchange?
In this article, we explore some of Bitcoin’s and Ethereum’s latest updates that might impact their price. In addition, we provide some price predictions from reputable sources that might give you the edge over other traders.
BTC Latest Updates
Bitcoin has led the market into strong bullish momentum in the past month by passing the $40,000 mark. This alone has allowed for the highly enthusiastic market sentiment that has driven most cryptocurrencies into bullish territory.
Multiple factors have contributed to the upside potential of BTC. The two most important ones remain the upcoming reward halving and the prospective spot ETF approval by the SEC.
Approximately every four years, the rewards from minting new Bitcoin with each new block get cut in half. The next halving should occur in April 2024. After this event, miners will introduce less Bitcoin into circulation, resulting in a supply shock on the markets.
History has shown that the Bitcoin price gains upward momentum before the halving and starts accelerating after the event. At this point, the cyclic nature of the crypto markets welcomes new investors and pushes prices higher.
Another crucial element to Bitcoin’s bullish performance is the approaching approval of spot ETFs by the SEC. Major financial institutions like Blackrock and Grayscale might become key players in the Bitcoin market by January 2024. Spot ETFs require these institutions to hold Bitcoin in reserves to propose these financial instruments to their customers.
This could inject billions of dollars of fresh liquidity into the crypto market, and more specifically, Bitcoin.
BTC Price Prediction
With that knowledge in mind, analysts have started providing enthusiastic predictions for BTC in the coming years. For reference, BTC is currently trading at $42,000.
Priceprediction.net provides a forecast of $76,174 per BTC, surpassing the 2021 all-time high. In the long term, the website expects the original cryptocurrency to reach as high as $107,063 in 2025.
Digitalcoinprice.com pushes the enthusiasm even further, with $107,360 targets for 2024 and $151,338 for 2025.
Ethereum Latest News
Ethereum hasn’t performed as well as Bitcoin in the past year, as it functions as an ecosystem of interdependent puzzle pieces. The reduced interest in blockchain games, NFTs, and DeFi due to the challenging bear market has suppressed ETH prices.
Additionally, the rise of strong competitors, such as Solana, has diluted liquidity in the smart contract industry across multiple blockchains. However, Ethereum still has a bright future.
The proliferation of successful layer 2 protocols is a deciding factor for Ethereum’s prosperity. Blockchains like Arbitrum, Optimism, and Polygon have pushed out scaling protocols that roll up their transactions on Ethereum. The best feature of these protocols is that they use ETH as gas for confirming their rollups.
ETH Future Price
Currently, ETH is trading at $2,250. Priceprediction.net provides a target of $4,120 for 2024 and $5,931 for 2025. Digitalcoinprice.com is more optimistic, with a forecast of $5,686 for 2024 and $8,078 for 2025.
Swapping ETH to BTC: 3 Best Platforms
Now that you have a decent overview of BTC and ETH, you might want to exchange your Ethereum assets. Below are some of the best platforms for this.
Godex
Godex is a privacy-focused exchange that allows you to swap crypto assets without registering. On https://godex.io, all you will need is a Bitcoin and Ethereum wallet to conduct an exchange. There’s no need to create an account or go through a tedious KYC procedure.
BitsGap
BitsGap is a trading bot platform that lets you connect to the most popular crypto exchanges in the world. It allows you to use advanced trending strategies and automate most of your activities.
SimpleSwap
Similar to Godex, SimpleSwap allows users to trade cryptocurrencies without registering an account. This exchange is perfect for beginners, considering its streamlined interface.
Transform ETH to BTC Now
With all of this knowledge under your belt, you are now able to exchange ETH for BTC in the best way possible. Hopefully, our analysis will allow you to make an informed decision regarding BTC and ETH future price movements.