Ethereum’s Ratio Struggles – Trustnodes

Ethereum’s Ratio Struggles


Bitcoin eth crypto prices, Dec 2020

Ethereum has fallen slightly against bitcoin today by 0.1% after a circa 10% drop since November 24th.

Eth at the time was worth more than 0.033 bitcoins, but now it is down to about 0.03 btc per eth.

That’s worth close to $60 to its price, something that would have brought it up to $640 from the current $580 if it had kept the 0.033 bitcoin value.

ETH/BTC on hourly candles at Coinbase, Dec 2020
ETH/BTC on hourly candles at Coinbase, Dec 2020

The November bull run against bitcoin was most likely driven by the then imminent launch of ethereum 2.0.

Ethereum 2.0 launched successfully on December 1st, but the ratio dived prior to the genesis block, with it not really quite recovering since.

Bitcoin now awaits a $650 million buy from MicroStrategy with their bot seemingly spotted in action at Coinbase.

The digital gold moreover is attracting a lot of attention, but eth too is seeing increased buying from institutional investors.

That has kept the ratio somewhat sidewaying for this month at the strong support base of 0.03 bitcoins.

Yet whether it will keep it and maybe even gain is not clear as bitcoin seems a bit lighter in anticipation of breaking that big $20,000 all time high resistance wall.

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