Price Analysis

Ethereum (ETH) vs Bitcoin (BTC): BTC Shifts to a Bearish Trend; ETH Follows Suit

Ethereum (ETH) and Ripple (XRP), both are top-most cryptocurrencies. Let's see what's the difference and which will be better?

Ethereum (ETH) and Bitcoin (BTC), the top-most cryptocurrencies have shifted to a bearish trend from the last few days. On 30th May, Bitcoin price had soared as high as 9073.97 USD, hitting its 7-day high price. However, after that, the BTC coin price has gone through many plunges. And currently, BTC is ranging between 7800 USD to 8000 USD, with a bit of volatility.

Ethereum also went through a similar price trend as it saw a sharp pullback after it reached as high as 288.85 USD price mark. Since then, the price went through small plunges but, with less volatility. Since 3rd June, ETH and BTC are witnessing volatility in their price trends.

Current Statistics:

Statistics

Ethereum (ETH)Bitcoin (BTC)

Price (USD)

10:08:53 UTC

245.56 USD7840.32 USD

Market Capitalization

25,782,977,147 USD

138,765,250,240 USD

24h Volume

9,391,415,531 USD

23,636,466,049 USD

Circulating Supply

106,360,328 ETH

17,741,712 BTC

Return on Investment (RoI)

8,460.88%

5,680.79%

Ethereum and Bitcoin Price Chart:ETH/BTC Price Chart

Comparison:

On 31st May, Ethereum and Bitcoin were trading at 255.98 USD and 8327.02 USD respectively. After that, both the currencies saw a steady increase in their price, tracing a surging curve. On 3rd June, a sharp price drop was noted in both the cryptos, where ETH was standing at 238.23 USD and BTC at 7728.96 USD. Since then, Ethereum and Bitcoin have seen turbulence in their prices.

Both the cryptos have started to rebound but haven’t shown any strong price recovery. Also, ETH is still trading in the red zone. In the last 5 days, Ethereum price has decreased to 4.07%, and Bitcoin has decreased to 5.84 %.

Conclusion:

Looking at its bearishness, both the currencies need a strong price boost. According to a recent update, Apple has revealed that it will come up with crypto-focused dev kit named CryptoKit. The news has come up at the right time, as it is anticipated to increase mass adoption that can improve the crypto price trend.

Tags

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.

Related Articles

Back to top button
Close