Price Analysis

Ethereum (ETH) vs Bitcoin (BTC): Has BTC Price Drop Put an Impact on ETH Price?

Ethereum and Bitcoin, both are most talked cryptocurrencies. Let's have a look into these two coins and see where they will reach in the long run.

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Bitcoin, being the most influential cryptocurrency has been a navigator for the crypto market. The ups and downs in BTC price can shake a majority part of the crypto world.

Recent big price slump in Ethereum price also resonates with the BTC price trend. ETH price, which was soaring high a few days ago is currently facing a bearish trend. On the other hand, Bitcoin, which was trading between 8300 USD to 8600 USD, is currently ranging between 7800 USD to 8000 USD.

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Current Statistics:

Statistics

Ethereum (ETH) Bitcoin (BTC)

Price (USD)

09:56:00 UTC

246.27 USD 7945.10 USD

Market Capitalization

26,280,464,792 USD

141,464,529,332 USD

24h Volume

9,745,984,057 USD

23,105,330,771 USD

Circulating Supply

106,345,023 ETH 17,739,612 BTC

Return on Investment (RoI)

8,627.32%

5,793.94%

Ethereum and Bitcoin Price Chart:ETH/BTC Price chart

Ethereum and Bitcoin Price Comparison:

The chart clearly shows how ETH price has taken a fall reaching as low as 237.82 USD. Similarly, the BTC price also went down at 7721.09 USD. Later, both the major currencies have started to move upwards but haven’t seen a strong recovery in their prices as yet. Bitcoin, in the last 24 hours has decreased to 8.78%, and Ethereum price has decreased to 8.39%.

However, the picture in the crypto market is not all gloomy. If we look at the chart showing the price trend from January 2019 up to now, we can notice the progress of ETH and BTC prices.

Ethereum and Bitcoin YTD Chart:Ethereum/Bitcoin Price graph

In January 2019, ETH price was standing at 136.48 USD price mark, which has soared to 246.27 USD, with an increase of  80.44%. Also, Bitcoin price was 3869.03 USD at the time which has reached to 7945.10 USD price point, with an increase of 105.35%.

Conclusion:

Looking at its price chart, Ethereum (ETH) and Bitcoin (BTC) are likely to take notable price surge but it can take a little while. As the both coins were performing quite well since a few months, this price drop is expected to turn into the next bull run soon.

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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