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Home News Ethereum News The upward trend of Ethereum may end the downtrend of Bitcoin

The upward trend of Ethereum may end the downtrend of Bitcoin

Bitcoin’s price is falling, but can the upcoming halving and the stubborn growth trend of Ethereum prevent this?

Ethereum is bitcoin’s hope

Ethereum (ETH) has seen increased activity recently and its price has increased by 115% since 13 March, this may be due to the upcoming premiere of Ethereum 2.0 about which we wrote in an article of 20 April (Will Ethereum 2.0 revolutionize the crypto market?). These factors may have a positive impact on Bitcoin (BTC) value. 

Differences and similarities

Bitcoin value (BTC) is characterized by a bearish structure that has much lower ups and much more serious downs. Ethereum (ETH), on the other hand, has many higher-ups and less serious falls. 

Upward trend of ethremwill prevent bitcoin another di

6-month Ethereum chart (ETH/USD). Source: TradingView

Altcoin, who is leading the way, has high peaks because the daily candle has closed significantly higher than in early February. Investors in cryptocurrency believe that Ether upward trend can support the entire crypto market and prevent another dip in Bitcoin. At the same time as Ethereum was going up, Bitcoin’s price increased steadily by 4% in 24 hours, despite the fact that BTC is reaching lower highs than ETH. According to analysts, crypto:

“Ether has a positive effect on Bitcoin’s short-term prices.”

bitcoin chart price going up because ethereum

A 6-month Bitcoin chart (BTC/USD). Source: TradingView

Great hopes for Ethereum 

According to a crypto merchant known on twitter as Chase NL, Ether’s strong rush can prevent Bitcoin from falling sharply. He noticed on one of his tweets, the possibility of one of two scenarios. ETH will go so far up that BTC will go back to its prime or Bitcoin’s inability to grow and thus drop ETH. 

We will soon find out whether investors waiting for Ethereum 2.0 prevent Bitcoin from falling in the short term. However, traders warn that another dip in price and correction of Bitcoin may come anyway.

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bitcoinBitcoin (BTC)
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ethereumEthereum (ETH)
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tetherTether (USDT)
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rippleXRP (XRP)
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litecoinLitecoin (LTC)
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moneroMonero (XMR)
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dashDash (DASH)
$ 106.24
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bitcoinBitcoin (BTC)
15.142,13
ethereumEthereum (ETH)
463,48
tetherTether (USDT)
0,836235
rippleXRP (XRP)
0,501647
bitcoin-cashBitcoin Cash (BCH)
234,27
litecoinLitecoin (LTC)
65,65
tronTRON (TRX)
0,025290
moneroMonero (XMR)
101,44
dashDash (DASH)
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eosEOS (EOS)
2,48
dogecoinDogecoin (DOGE)
0,002863
bitcoinBitcoin (BTC)
67,922.18
ethereumEthereum (ETH)
2,079.02
tetherTether (USDT)
3.75
rippleXRP (XRP)
2.25
bitcoin-cashBitcoin Cash (BCH)
1,050.86
litecoinLitecoin (LTC)
294.49
tronTRON (TRX)
0.113443
moneroMonero (XMR)
455.04
dashDash (DASH)
398.51
eosEOS (EOS)
11.14
dogecoinDogecoin (DOGE)
0.012844
bitcoinBitcoin (BTC)
1,376,116.60
ethereumEthereum (ETH)
42,121.34
tetherTether (USDT)
76.00
rippleXRP (XRP)
45.59
bitcoin-cashBitcoin Cash (BCH)
21,290.56
litecoinLitecoin (LTC)
5,966.53
tronTRON (TRX)
2.30
moneroMonero (XMR)
9,219.20
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225.71
dogecoinDogecoin (DOGE)
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