Ethereum’s Bitcoin Ratio Crashes

ethereum bitcoin ratio oct 20 2020

Ethereum has lost some 10% to bitcoin in value today with it falling from close to 0.033 BTC yesterday to now 0.030 BTC as pictured above. While bitcoin has risen by some 5% today to near $12,000, ethereum has fallen to $370 from a recent high of $385. All other cryptos have fallen too, with eth falling less than the rest, but the question is why is it not rising like bitcoin or for today like stocks too? It’s not very clear what the answer is, but it may well be it’s bitcoin’s time, and therefore it is sucking value from other cryptos. Another reason may be that the decentralized finance (defi) space is in red today and all of this week, something that could affect eth. Primarily due to impermanent loss. That’s say if you pair ETH/YFI on Uniswap, YFI is sold and eth is bought if YFI’s price…

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