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)
Price (USD) 188.01 10133.72
ROI 6,547.50% 7,451.86%
Market Rank 2nd 1st
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:

Bitcoin vs. Ethereum price chart - Aug 21

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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, 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.

Conclusion:

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.

Ruti Vora

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

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