Ethereum’s Ratio on Support

ping pong bitcoin eth abstract 1

Ethereum’s value against bitcoin has dropped to its lowest level in a month, now testing support at 0.035 bitcoins. That’s after it reached a high of 0.046 on Feb the fifth, meaning it has dropped by 25% in just over a week. That coincides with Tesla’s announcement of buying bitcoin, propelling digital gold to new highs while eth hasn’t quite kept up. Ethereum’s price against bitcoin is now back to August/September levels where there appears to be some reasonable support. If it will be held remains to be seen, but bitcoin currently has a lot going for it, with it very much leading. Yet it isn’t clear for how long, because the two tend to ping pong all the time, with bitcoin having won so far. Sooner or later it will presumably pass it to eth, which has the biggest adoption and infrastructure after bitcoin. Just recently American singer Gene…

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