Bitcoin has always attracted many altcoins because of its movement. According to a few marketers, Bitcoin is an anchor to many currencies in the market. However, there are some coins which do get affected by Bitcoins but have their own momentum too.
Ethereum is one such currency in the crypto market that gets inspired by the Bitcoin but has differential movement as well. The coin has many times felt the magnet but at the same time has shown the potential to repel for own good. To make the same more clear, let’s compare the two cryptocurrencies.
Bitcoin and Ethereum current statistics:
|Price (USD) 09:09:25 UTC||$7,970.16||$247.68|
|Market Capitalization||141,506,733,772 USD||26,367,259,666 USD|
|24hr Volume||18,384,265,505 USD||7,881,881,550 USD|
|Circulating Supply||17,754,562 BTC||106,457,374 ETH|
|Return on Investment (ROI)||5,790.73%||8,646.90%|
BTC and ETH Price Chart:
The chart is taken from Trading View on 12th June 2019 at 08:55:43 UTC for price comparison.
As per the given one month chart of Bitcoin (BTC) and Ethereum (ETH), BTC has experienced a steep upward movement in the chart whereas ETH price graph is a little narrow. If we compare the price drop occurred between 15th May and 17th May, then BTC shows a drop by 14.44% (from $8279 to $7083) however, ETH marks a regression of 16.73% as price slips from $275.61 to $229.48. Between 27th and 30th May the price of BTC experienced a hike from $8058 to $8975, marking a progression of 11.37%. ETH marked a progression of 10.86% as prices jumped from $250.61 to $277.83.
In the month of June, the price of BTC dropped from $8587 to $7515 and marked regression of 12.48%. The ETH has shown no sudden pick or drop. The price of ETC is seen maintaining equilibrium at a resistance level of $260 and support level at $224.75.
Price Prediction and Conclusion:
Bitcoin is indicating its momentum towards a brighter future in the cryptocurrency. The investors can draw huge dividends out of it. To know more the long-term potentials of the coin, you can read more our forecast post.
ETH is also on the same track and also looks promising for the investors and the ranking of both the coins exhibits the same. The traders can go for both the currencies depending on their preferences.