Bitcoin is the oldest cryptocurrency and in recent years, it has grown rapidly and created a huge network. On the other hand, Ether is currently new to the cryptocurrency market. It was discharged in 2015.
Ethereum vs Bitcoin
Basic difference:
Bitcoin is the most popular cryptocurrency whereas Ether is the second most popular cryptocurrency. Though both are decentralized currencies, which means they aren't regulated by any central authorities like that of fiat currency.
The working of transactions of these two cryptocurrencies is clearly different. On one side, the data affixed to the Bitcoin network is just for keeping notes. Whereas, Ethereum network may consist of executable code.
The time taken by transactions is not the same between these cryptocurrencies. Bitcoin usually takes anywhere around 10 minutes while Ethereum transaction is way quicker, it can do its process within a few seconds.
Both operate on different algorithms. Bitcoin uses SHA-256 while Ethereum uses Et-Hash.
Performance history:
Bitcoin as well as Ether had performed exceptionally well in recent years. For both, 2019 and 2020 was the great year where these two digital currencies have shown rapid growth in the value, as well as the demand, has risen.
Bitcoin started from nowhere in 2009 and currently, its price is roughly $60k and Ether started from nowhere in 2015 and is now priced at around $2k.
Although they both exhibit a property of sudden rises and falls, better known as volatility. Their volatile nature is enough to give you an anxiety attack but has also proven to be the most profitable just because of their high volatility.
Yet one more common thing about Bitcoin as well as Ether is the people who are still grieving for the fact that they have chosen not to risk their money in these two cryptocurrencies.
Market status:
Market cap is the value of a company on the open market. It gives an idea to the investors about the size of the company. Usually, companies with a market cap of more than $10 billion are considered well-known companies.
- The market capitalization of Bitcoin is $1.12 trillion. Bitcoin occupy the first rank in the cryptocurrency market
- The market capitalization of Ether is $281 billion. Ether holds the second position in the cryptocurrency market.
Price history:
Bitcoin:
(Average price: Price in January + Price in December / 2)
2013: $470
2014: $575
2015: $326
2016: $665
2017: $6,991
2018: $11,758
2019: $5,346
2020: $19,156
2021: $46,124 (Till March)
Ether:
(Average price: Price in January + Price in December / 2)
2015: $1.1
2016: $5.2
2017: $365.2
2018: $599
2019: $119
2020: $446
2021: $1,597 (Till March)
Price growth:
Bitcoin:
We have the price history of Bitcoin since 2013. From 2013 to 2016, Bitcoin didn't go through a major rise in its price. In 2017, Bitcoin started experiencing a sudden rise in its price. In the January of 2017, the price was nearly $1k, but at the end of that year, the price rose to $13k, which was the earliest sign of a sudden rise in its value.
The price waited below $13k till October 2020. Between the final months of 2020 (Oct, Nov, and Dec) and the initial months of 2021 (Jan and Feb), the price of Bitcoin rose perpendicularly from $13.5k to roughly $45k.
Ether:
Ether saw a significant boost in its price throughout 2017. There was a continuous increase in price from $308 to $1066 between October 2017 and January 2018. The price of an Ether sojourned below 1066 till the start of 2021, the year where Ether got a swift rise in its value.
Like Bitcoin, the price of Ether rose perpendicularly from October 2020 to January 2021. Here, the price rose from $380 to $1385.