BTC v ETH Ratio. Yellow Coin is Back To Be The Only Game in Town
Updated
The cryptocurrency community recently took a trip down memory lane, reflecting on the early days of Bitcoin, when Bitcoin historian Pete Rizzo published a chart showing the cryptocurrency's pricing exactly 14 years ago.
14 years ago, on August 23, 2010, you could buy 10 Bitcoin for $1.
Back in 2010, Bitcoin was a relatively unknown digital currency, having launched the year before and was primarily used by a small group of enthusiasts and early adopters.
From being worth mere cents to reaching all-time highs of nearly $74,000 this year, Bitcoin's price growth has been nothing short of extraordinary. What began as an idea for a decentralized currency has grown into a multi-trillion-dollar market, attracting investors, institutions and governments worldwide.
Recent weeks have seen numerous reactivations of several ancient Bitcoin wallets, whose value has skyrocketed astronomically as the price of Bitcoin increased.
Ethereum is a bit younger coin, a symbol and a face of all altcoins; it is a decentralized blockchain with smart contract functionality. Ether use the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to bitcoin in market capitalization. It is open-source software.
Ethereum was initially described in late 2013 in a white paper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, that described a way to build decentralized applications. Buterin argued to the Bitcoin Core developers that blockchain technology could benefit from other applications besides money and that it needed a more robust language for application development that could lead to attaching real-world assets, such as stocks and property, to the blockchain.
In total they both, Bitcoin and Ethereum, weight around 72% of total market cap in this time, where BTC weights near 57%, and ETH weights around 15%.
The main technical graph (BTCETH) represents ratio between these two major crypto coins, BTC and ETH overall.
In technical terms, it's been highlighted on the graph several important issues:
👉 Reversed Head-and-Shoulders technical structure in development, as BTCETH ratio has recently broke it's 3-years old resistance.
BTC seems more powerful coin against ETH and other altcoins, and BTC Dominance
BTC.D is rising over the past 3 years and a half, since it hit the bottom near 40% degree.
👉 52-weeks SMA supports BTCETH ratio over the past twelve months.
👉 5-years SMA resistance is near to brake by surging BTCETH, 1st time in history ever.
In a bottom line Yellow Coin is back to be the only game in town, as markets participants seems trying to consolidate near the most strong crypto asset only (i.e. BTC).
14 years ago, on August 23, 2010, you could buy 10 Bitcoin for $1.
Back in 2010, Bitcoin was a relatively unknown digital currency, having launched the year before and was primarily used by a small group of enthusiasts and early adopters.
From being worth mere cents to reaching all-time highs of nearly $74,000 this year, Bitcoin's price growth has been nothing short of extraordinary. What began as an idea for a decentralized currency has grown into a multi-trillion-dollar market, attracting investors, institutions and governments worldwide.
Recent weeks have seen numerous reactivations of several ancient Bitcoin wallets, whose value has skyrocketed astronomically as the price of Bitcoin increased.
Ethereum is a bit younger coin, a symbol and a face of all altcoins; it is a decentralized blockchain with smart contract functionality. Ether use the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to bitcoin in market capitalization. It is open-source software.
Ethereum was initially described in late 2013 in a white paper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, that described a way to build decentralized applications. Buterin argued to the Bitcoin Core developers that blockchain technology could benefit from other applications besides money and that it needed a more robust language for application development that could lead to attaching real-world assets, such as stocks and property, to the blockchain.
In total they both, Bitcoin and Ethereum, weight around 72% of total market cap in this time, where BTC weights near 57%, and ETH weights around 15%.
The main technical graph (BTCETH) represents ratio between these two major crypto coins, BTC and ETH overall.
In technical terms, it's been highlighted on the graph several important issues:
👉 Reversed Head-and-Shoulders technical structure in development, as BTCETH ratio has recently broke it's 3-years old resistance.
BTC seems more powerful coin against ETH and other altcoins, and BTC Dominance
BTC.D is rising over the past 3 years and a half, since it hit the bottom near 40% degree.👉 52-weeks SMA supports BTCETH ratio over the past twelve months.
👉 5-years SMA resistance is near to brake by surging BTCETH, 1st time in history ever.
In a bottom line Yellow Coin is back to be the only game in town, as markets participants seems trying to consolidate near the most strong crypto asset only (i.e. BTC).
Trade active
August 28, 2024
👉 The historical moment has almost arrived, while BTC/ETH ratio slips through 5-years SMA higher.
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