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Price Analysis

Bitcoin Vs. Ethereum: Ethereum (ETH) Follows The Footsteps Of Bitcoin (BTC) In Both Highs & Lows By Showing Similar Performance

  • Ethereum replicates Bitcoin performance in exhibiting the highs and lows
  • ETH prices may shoot up if BTC records an $8000 surge soon

Ethereum has been built uniquely and with a completely different framework than Bitcoin, however, as most of the altcoins, ETH prices have also shown a large impact from the surging or dripping trend of BTC by moving in sync with the latter. The current market performance also reflects and reaffirms this dependency and resemblance of the price trend.

Ethereum (ETH) and Bitcoin (BTC) Current Price Statistics:

As on June 11, 2019, at 07:19:43 UTC, the following pattern has been observed from Ethereum’s ETH and Bitcoin’s  BTC.

ETH - BTC Price Comparison Chart - 11 June

Statistics Ethereum (ETH)Bitcoin (BTC)
Price  (USD)244.817912.43
Price (BTC)0.03089907
Market Capitalization26,228,578,442141,008,785,782
24h volume7,787,016,92317,693,153,995
Circulating Supply106,440,678 ETH17,752,675 BTC
Return on Investment8,595.96%5,767.13%

As shown in the graph of the last 25 days, there has been a similar trend recorded by BTC and ETH. ETH moved up when BTC went up and dripped down as the latter recorded a slow trend.

ETH has recorded an uptrend of over 13.84% in the last 25 days when the coin value first moved up to $279 from $215.04 then dropped back to $234 before pacing up again to $286.

Similarly, BTC has shown an uptrend of over 10% in the last 25 days. The coin has traversed from $7190 to $7912 and peaked as high as $8744 around the beginning of June.

ETH is placed at the second position below BTC in the global crypto ranking, and the coin has been moving hand-in-hand recording highs and lows in accordance with the market leader.

BTC And ETH Price Prediction:

Both Ethereum and Bitcoin will show a surge in the value by the end of this month and may cross their highest recorded value of $287 and $9000 respectively by the next quarter.

Conclusion:

Bitcoin is a good benchmark, and if Ethereum has been showing an almost similar trend than ETH is a good bet for the future and BTC gains more and more market support from the global leaders.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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