Bitcoin Vs. Ethereum: The Sudden Drop in The Cryptos Has Caused Distress in the Market
The two top-most coins of the crypto space, i.e., Bitcoin and Ethereum, has followed a somewhat similar trend. The charts clearly depict that the duo started the trading yesterday at a positive note but went on declining.
BTC Vs. ETH Current Statistics (On August 21 at UTC 11:39):
|Parameters||Ethereum (ETH)||Bitcoin (BTC)|
|Market Cap||20,218,252,851 USD||182,778,189,519 USD|
|24-Hour Volume||7,075,900,538 USD||16,663,752,663 USD|
|Circulating Supply||107,411,395 ETH||17,888,450 BTC|
|Price in BTC||0.01851067||NA|
Bitcoin Vs. Ethereum Price Comparison:
In the intraday trading yesterday, both have shown some sign of decline. Till early morning, i.e., 03:00 UTC today, the cryptos were showing a relatively slow action. In this period, Bitcoin has declined by 3.91% and Ethereum by 5.63%. However, around 03:00 UTC, there was a major plunge happened in the coins. The slowdown that occurred dragged Bitcoin by 3.35% to the level of 10,245 USD and Ethereum fell by 2.71% to the level of 187.39 USD. The coins showed some strengthening afterward and moved toward the current levels.
Bitcoin Vs. Ethereum Price Prediction:
As per our analysis and ETH Price Prediction, the whole crypto space is declining, and once the market goes bullish, these coins will follow the trend as well. For Bitcoin, the long-term prediction is around $15K, and for Ethereum, it may cross its 90-Day high of $361. As of now, Ethereum faces immediate resistance at 190.27 USD and support at 187.24 USD. For Bitcoin, the immediate resistance is at 10,417.5 USD and support level at $10,009.51.
These two cryptos decide the movement of the market. And if the coins are facing a slowdown, the whole altcoin space has a similar tendency. The short-term trends in both coins are bearish. With that said, the long-term will be bullish.