Ethereum’s prolonged battle with Bitcoin: Who’s winning?
The post Ethereum’s prolonged battle with Bitcoin: Who’s winning? appeared on BitcoinEthereumNews.com. The gripping saga between Ethereum and Bitcoin has seen its highs and lows, twists and turns. And as the plot thickens in 2023, Ethereum’s native token is at a significant 15-month low in comparison to Bitcoin. So, who exactly is edging out whom in this crypto contest? Let’s dive deep. Ethereum’s Skidding Metrics It was eyebrow-raising when Ethereum’s price plummeted to a position where it traded alarmingly low against Bitcoin, especially in a week where the ETH/BTC pair stumbled to a distressing 0.056 BTC. A detailed scrutiny brings to light an unsettling revelation: Ethereum’s price descended below a pivotal benchmark—the 200-week exponential moving average (often visualized as the blue wave). As the duo slips past this critical juncture, storm clouds gather, threatening more turbulence for Ethereum as 2023 progresses. Historically, the 200-week EMA has been Ethereum’s safety net. To put it in perspective, the pair saw a surge by a whopping 75% just three months after making contact with the wave support around July 2022. Yet, it wasn’t always sunshine and rainbows; the coin faced a harsh reality check with a 25% dip after severing ties with this same support in October 2020. Peering ahead into 2023, with Ethereum’s recent detachment from its 200-week EMA, there’s a palpable apprehension in the air. Doomsayers predict another dip, possibly circling the 0.5 Fib line near 0.051 BTC, a downturn of approximately 9.5% from where it stands. Yet, hope springs eternal, and if Ethereum manages to recapture its position at the 200-week EMA, a rebound to the 50-week EMA, visualized as the red wave, might be on the horizon. Bitcoin’s Rise Casting Shadows But while Ethereum struggles with its metrics, Bitcoin has been the darling of institutional capital flow. The numbers spell it out loud and clear. As of the first week of…
The post Ethereum’s prolonged battle with Bitcoin: Who’s winning? appeared on BitcoinEthereumNews.com.
The gripping saga between Ethereum and Bitcoin has seen its highs and lows, twists and turns. And as the plot thickens in 2023, Ethereum’s native token is at a significant 15-month low in comparison to Bitcoin. So, who exactly is edging out whom in this crypto contest? Let’s dive deep. Ethereum’s Skidding Metrics It was eyebrow-raising when Ethereum’s price plummeted to a position where it traded alarmingly low against Bitcoin, especially in a week where the ETH/BTC pair stumbled to a distressing 0.056 BTC. A detailed scrutiny brings to light an unsettling revelation: Ethereum’s price descended below a pivotal benchmark—the 200-week exponential moving average (often visualized as the blue wave). As the duo slips past this critical juncture, storm clouds gather, threatening more turbulence for Ethereum as 2023 progresses. Historically, the 200-week EMA has been Ethereum’s safety net. To put it in perspective, the pair saw a surge by a whopping 75% just three months after making contact with the wave support around July 2022. Yet, it wasn’t always sunshine and rainbows; the coin faced a harsh reality check with a 25% dip after severing ties with this same support in October 2020. Peering ahead into 2023, with Ethereum’s recent detachment from its 200-week EMA, there’s a palpable apprehension in the air. Doomsayers predict another dip, possibly circling the 0.5 Fib line near 0.051 BTC, a downturn of approximately 9.5% from where it stands. Yet, hope springs eternal, and if Ethereum manages to recapture its position at the 200-week EMA, a rebound to the 50-week EMA, visualized as the red wave, might be on the horizon. Bitcoin’s Rise Casting Shadows But while Ethereum struggles with its metrics, Bitcoin has been the darling of institutional capital flow. The numbers spell it out loud and clear. As of the first week of…
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