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Price Analysis

Bitcoin Vs. Ethereum: Bitcoin (BTC) And Ethereum (ETH) Price Face A Pull-back

The popular crypto exchange, Bithoven.com, has recently enabled margin trading on their platform. The multifunctional exchange, MetaTrader 5, henceforth allows maximum leverage of 1:20. Additionally, Bitcoin (BTC) can be used as a nominal margin currency for scalability and convenient transactions. From now onwards, users can also register 3-6 digits long Ethereum Name Services (ENS) on the blockchain with ‘. eth’ extensions. Earlier, at least 7 digit ENS was required.

Current Statistics of Bitcoin and Ethereum (On July 11, at UTC 08:49):

BTC-ETH Price Prediction
BTC-ETH Price Chart

Today, Bitcoin, as well as Ethereum, again went back in the red zone. Few important parameters are:

StatisticsEthereum (ETH)Bitcoin (BTC)
Price 270.46 USD$11,419.41 USD
ROI> 9000%8,393.11%
Market Rank2nd1st
Market Capitalisation28,998,639,364 USD204,672,914,695 USD
24 Hour Volume11,941,237,502 USD33,693,787,891 USD
Circulating Supply 106,851,831 ETH17,811,300 BTC
Price in BTC0.02361364NA

 BTC – ETH Price Comparison:

Let’s have a comparison of the prices of these coins from that of the last 25-days. While Bitcoin was trading at 9363.94 USD on June 16, Ethereum was at 276.45 USD. Over the period of 25-days, Bitcoin has made a significant growth of 21.95%, while Ethereum has gone down by a slight margin of 2.16%. In weekly trading duration, both the coins have gone down, where BTC made a dip of 3.8% from the trading price of 11937.39 USD on July 04, Ethereum declined by 9.17% from $298.35.

 BTC – ETH Price Prediction:

Although there is a negative momentum in the coin as of now, it will wash off soon. As per our prediction, Ethereum (ETH) will trade somewhere near $500 in the long term, i.e. by the end of the year. As of now, the immediate resistance for the altcoin is at 306.86. Bitcoin (BTC) is expected to trade around $15,000 to $20,000 by the end of 2019 and currently, facing immediate resistance at $11,535.15.

Conclusion:

Bitcoin and Ethereum are having a slowdown today. Although the situation is a tricky one, it is an opportunity for making a huge profit if cryptos are bought at low prices. Nevertheless, one must remember the fact that cryptos are ‘two-way swords’.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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