Is Ethereum a No-Brainer Buy After the Bitcoin Halving?
Many cryptocurrencies pulled back a couple of years ago from their all-time highs as rising interest rates drove investors toward more conservative investments. Yet three tailwinds have lifted the broader market this year: expectations for lower rates, the approvals of the first Bitcoin (CRYPTO: BTC) spot exchange-traded funds (ETFs) in January, and Bitcoin's halving in April.
But now that Bitcoin has concluded its long-awaited halving, which reduces the rewards for mining Bitcoin every four years, there will probably be fewer near-term catalysts for the world's top cryptocurrency. So is it time to turn our attention toward Ethereum (CRYPTO: ETH), the world's second largest cryptocurrency, for bigger gains this year?
Image source: Getty Images.
Source Fool.com
