ETH vs BTC: Ethereum is Down By 85% Against Bitcoin, What Does This Say About The Largest Altcoin?

ethereum ecosystem

The crypto-sphere kick-started roughly ten years ago but the altcoin frenzy in 2017/2018 gave the industry extra exposure. An opportunity for companies to start launching tokens for everything possible without hassle came to light. All that was needed was a document and million’s worth of cryptocurrency will be raised through an initial coin offering. (ICO). Ethereum was the platform backing most of the token donation, and Ether (ETH), which is the native token of the Ethereum network, had a massive increment due to all the outbursts surrounding words like “ICO” and “smart contract.” Then like a sudden pause, everything stopped and prices started to drop.

Ethereum News Update – Ethereum Latest Update – Bitcoin Price Prediction –ETH Value Forecast So Far

The Ethereum price forecast shows the uptrend and downtrend of ETH prices over time. As of the middle of January 2018, the price hit an increase against the U.S. dollar, and according to Messari’s OnChainFX, ETH is presently down at 86% from that increase.

Ethereum (ETH) Price Today – ETH / USD

NamePrice24H %
ethereum
Ethereum(ETH)
$2,967.00-5.78%

While in Bitcoin price forecast, according to Coin Metrics, in June 2017, ETH hit an increment. Currently, ETH is down at 85% against BTC from that surge. Ethereum prediction in June 2017, speculated that ETH would overtake BTC as the most valuable and popular cryptocurrency on the market. Speculations surrounding ETH in 2019, suggests an increase in price if more ETH is taken off the market.

Decentralized Finance (DeFi) has taken over ICOs as the main point of Ethereum discussion. On Ethereum news today, it seems DeFi is yet to recover for the supply side increase coming from various ICO projects selling their ETH. So far this year according to Bitcoin’s latest news, BTC has tripled in market value and ETH is yet to beat the price. Though there are speculations that once BTC rally commences, ETH could outperform BTC.

Bitcoin News Today – BTC Standing the Test of Time

Bitcoin has a DeFi project of its own, including Abra and Money on Chain, whose aim is to proffer security through Bitcoin. The coming years will test the resilience level of ETH. BTC has revived from above 80% decline against the U.S. dollar on a different event. It is ambiguous if ETH can survive the same fate as BTC. And unlike ETH’s price in BTC, BTC has never been down against the U.S. dollar over three years.

A current survey from SFOX showed that a steady bullish trend could spin into a full-on FOMO from retailer investors this holiday season. Dan Morehead, Pantera CEO forecasted a rise up to $42,000 could be in the cards before the end of the year.

There is a possibility that BTC is still in the early phase of the bullish trend. While ETH has hit a rocky end against BTC over the years, some of the tokens built on top of Ethereum have been outperforming BTC in recent months.

An increase in the price of the ETH is expected if more ETH would be taken off the market. It will be noteworthy Traders and investors are observing to see if the value of Ethereum is gained through a layer or if money will move into the projects built on top of the smart contracts platform.

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