![]() ![]() “Since #Bitcoin is taking the lead now, $ETHBTC is normally pulling back Currently testing the neckline for the proposed iH&S (following since months, refer to thread) I want 2 c the neckline holding for potential 50-100% Move up as explained.” On February 14, as Bitcoin reached a new all-time high and took most of the momentum in the cryptocurrency market with it, large-cap cryptocurrencies, including Ether, plunged.Ī cryptocurrency trader known as Feras Y said: Throughout the past few weeks, the ETH/BTC pair has seen both ETH outperforming Bitcoin at times and BTC regaining the momentum on some days. Traders say that it most likely was a severe case of the ETH/BTC pair breaking down as the price of Bitcoin started to rally. ![]() Source: ETHUSD on Why did this Ethereum price trend occur? ![]() This comes as the dominant cryptocurrency soared to a new all-time high in the last several hours.Īs Bitcoin began to climb towards $49,900, the price of Ethereum actually dropped in the same period.Īlthough Ethereum has sometimes lagged behind Bitcoin during a strong BTC uptrend, it is rare to see ETH drop so sharply when BTC is soaring. The price of Ethereum is declining against both Bitcoin and the U.S.
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