Ethereum’s Ratio Breaks Support

eth bitcoin price oct 28 2020

Ethereum’s value against bitcoin has fallen by 22% since last month, with it breaching that support level of 0.03 this Tuesday. One eth is now worth 0.029, significantly below the 0.37 it reached in September of this year. Since then, eth’s value against bitcoin has been falling as can be seen above, with it most notable yesterday and today. While bitcoin rose to $13,800, ethereum rose a bit to $410, but not quite by the sam extent. While today eth fell to $394, bitcoin just dropped by $100 or $200. Translating to overall bitcoin rising by 14% this week, while eth has gained “just” 7%. Ethereum was leading for much of summer due to the decentralized finance (defi) boom. Eventually it was going to give way, with bitcoin now running the show due to its own factors, but also because eth investors appear to be a bit frustrated by a…

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