Nothing new for the number 2 coin. Ethereum pursues its way down against Bitcoin. Its drift lower pushes the pair toward new year lows on a daily basis with no buyer insight to give ethereum some relief.
Unlike the previous years, 2019 Bitcoin's uptrend has been fueled by institutional funds. Those funds are now using Bitcoin as a hedge against a possible depreciation of the US dollar and the negative yielding process of the bonds market.
Ethereum and the other altcoins remain risky assets for now which would explain the current divergence between Bitcoin and altcoins.
ETHBTC is not showing any sign of reversal, therefore we expect more weakness to come until volume rises.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/transparency.......................................... .
Unlike the previous years, 2019 Bitcoin's uptrend has been fueled by institutional funds. Those funds are now using Bitcoin as a hedge against a possible depreciation of the US dollar and the negative yielding process of the bonds market.
Ethereum and the other altcoins remain risky assets for now which would explain the current divergence between Bitcoin and altcoins.
ETHBTC is not showing any sign of reversal, therefore we expect more weakness to come until volume rises.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/transparency.......................................... .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.