One of the favorite mainstream tool of traders with more than 8 million active traders and investors, told their 62,000 Tweeter followers:
Ethereum has been lagging behind bitcoin for quite some time with its price appearing detached from fundamentals such as transaction numbers.
That’s even while Google has announced they’ve built an ethereum dapp with the Chainlink oracle contract.
So suggesting ethereum might be heading mainstream at least in awareness, but for now it is 5x below bitcoin’s $150 billion market cap, with ethereum at just $30 billion.
Ethereum’s price against bitcoin has been pretty much sidewaying since September, that’s not far off from a year.
It has gone down and up here and there, but it was at about 0.03 in September and it’s currently still there.
That could suggest the ratio has perhaps found a floor, with ethereum remaining 50% down over the year, while bitcoin and ltc are up about 27%.
Whether that will change now remains to be seen, but TradingView seems to think ethereum bulls should be getting a bit excited with only time telling whether that would be a wise move.