Ethereum [ETH] & EOS Outperform Bitcoin [BTC] in Recent Surge

2018-11-5 19:59

One is the actual Ethereum. The other has been called the Ethereum killer. Both are showing similar price action recently forming higher lows since mid-August. It has been a difficult year for both cryptocurrencies with both undergoing large depreciation in value as investors raised concerns over the utility of both the cryptocurrencies. Although there has been a lot of anticipation over the potential of both the applications, investors reassessed price which resulted in the downward spirals we have seen for the majority of this year.

With the recent surge, both coins have outperformed Bitcoin. Based on data from CryptoCompare, Bitcoin rose 0.93% against the US Dollar whereas Ethereum rose 3.93% and EOS rose 0.43% against Bitcoin. The higher lows being formed could indicate that price levels for these cryptocurrencies may be after finding its low and price is now consolidating until we have an accumulation of buyers. The MACD of both has been rising showing an increase buyers momentum.

Ethereum (left) & EOS (right)

For much of 2018, altcoins have been severely underperforming Bitcoin providing strength to the case that Bitcoin is the most superior store of value within cryptocurrencies. Due to EOS still being at the ICO stage at the start of the year, it has actually depreciated less than Bitcoin when considering the whole of 2018. Based on data from coinlib.io, EOS has lost 46% since January 1st. Bitcoin has far outperformed Ethereum with Bitcoin losing 54% of its value and Ethereum losing an enormous 72%.

Source: Coinlib.io Key Takeaways: After sharp declines this year, EOS and Ethereum are showing similar price patterns forming higher lows since mid-August. Both may have found their bottom for the price and may be consolidating while buyers accumulate. EOS has actually held its value better than Bitcoin when considering 2018 as a whole but Bitcoin has held its value far better than Ethereum.

Ethereum [ETH] & EOS Outperform Bitcoin [BTC] in Recent Surge was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Источник: blokt.com

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