If you look at the variation in the price of both the coins over a period of 25-days, the duo has gone down by a huge amount. In that context, on August 08, Bitcoin was trading around 11834.18 USD. Similarly, Ethereum was around 224.68 USD. However, in the above mentioned period, BTC has declined by 17.41% and ETH by 23.78%. Similarly, in the weekly trading, Bitcoin made a dip of 4.8% from the level of 10274.68 USD on August 27.
ETH went down by 7.51% from $185.36 in the same time period. In the intraday trading, however, Bitcoin has strengthened by 1.32% after opening at $9,630.59. It wrapped the day at 9,757.97 USD. For Ethereum, the intraday trading has been more of a flattish one where it opened at 172.46 USD and with a marginal decline of 0.48%, wrapped the day at 171.63 USD.
Current Statistics of BTC – ETH (On September 02 at UTC 07:58):
|Parameters||Ethereum (ETH)||Bitcoin (BTC)|
|Market Cap||18,435,874,023 USD||174,834,674,760 USD|
|24-hrs Volume||5,266,473,761 USD||11,807,301,333 USD|
|Circulating Supply||107,572,611 ETH||17,910,937 BTC|
|Price in BTC||0.01756829||NA|
BTC – ETH Price Prediction:
At current levels, both the coins are making a negative movement, and the bearish trends in the cryptos will most probably be persistent for a little longer. For now, the immediate resistance for Ethereum is at 173.71 USD and support at $169.59. For Bitcoin, the immediate resistance is at 9,842.17 USD and support level at $9,628.35.
Both the coins are at the top position in the crypto market, and a lot is riding in the action in these coins. The Venezuela crisis has proved that the altcoins can be a major stakeholder in maintaining economic stability. Meanwhile, the short term trends in both coins are bearish.