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3 reasons why Ethereum may underperform Bitcoin in the short-term By Cointelegraph

1 month ago
in Technical
2 min read
3 reasons why Ethereum may underperform Bitcoin in the short-term By Cointelegraph
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3 reasons why Ethereum may underperform Bitcoin in the short-term
3 reasons why Ethereum may underperform Bitcoin in the short-term

Ether (ETH) price outperformed (BTC) by 173% from March 28 to May 15. The incredible bull caused the token to reach a $4,380 all-time high. However, as cryptocurrency markets initiated a sharp drop on May 12, the trend started to reverse, and since then, Ether has underperformed by 25%.

Some might say it is a technical adjustment after a strong rally. While this partially explains the move, it excludes some critical factors, including the fast advance of smart-contract network competitors and Bitcoin being adopted as an official currency for the first time.

Ether / Bitcoin price at Binance. Source: TradingView
PancakeSwap DEX daily volume vs. top 10. Source: DeBank

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Read more:3 reasons why Ethereum may underperform Bitcoin in the short-term By Cointelegraph

Tags: Bitcoinbitcoin news todayCointelegraphEthereumReasonsShortTermunderperform

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