TechFlow news, on August 22, according to Decrypt, Greg Magadini, Director of Derivatives at Amberdata, said that Bitcoin is now like a hybrid of digital gold and risk assets. Against the backdrop of rising stock markets and growing pressure on the Federal Reserve to cut interest rates, this asset is being driven by two sentiments simultaneously.
Although some consider Ethereum outdated technology, it possesses a developer ecosystem similar to the iPhone platform, allowing developers to directly build applications on its infrastructure. These network effects will only continue to accumulate; therefore, Ethereum's price is expected to follow Bitcoin's upward trend, potentially reaching the $8,000 to $10,000 range.
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