ETH/BTC Continues to Decline - Ethereum's Weakness to Bitcoin Price Influence

in #bitcoin • 6 years ago

Ethereum dipped below $200 USD today reaching as low as $190. While Bitcoin finds a support line at $6,000 (which I have mentioned in a previous post as something I am anticipating for the price to break below in October 2018), Ethereum's price (not necessarily value) continues to break past support.

This ongoing relationship is easiest viewed in the Ethereum cross rate against Bitcoin:

Ripple also continues to show similar declines against Bitcoin:

I expect this trend of major altcoins to continue in the coming months, and should Bitcoin indeed finally break below the $6,000 support, it could lead to some serious risk management trading action for major altcoin investors. This might include selling out into Tether or Hodling in Bitcoin across the market decline.

(This is not trading or investment advice)

#ethereum #altcoin #ripple #cryptocurrency
6 years ago in #bitcoin by
$0.00
    Reply 0

    Coin Marketplace

    STEEM 0.19
    TRX 0.16
    JST 0.033
    BTC 64192.94
    ETH 2764.54
    USDT 1.00
    SBD 2.65