For over two years now, Bitcoin has been outperforming altcoins like Ethereum and others. BTC dominance has continued to climb as a result.
However, Ethereum may be forecasting another 50% drop on the ETHBTC trading pair that could bring dominance back to pre-bubble levels.
ETHBTC Points To Dangerous Ethereum Drop Against Bitcoin
In early 2020, Ethereum vastly outperformed Bitcoin due to surging interest and buzz surrounding decentralized finance.
Talk of the 2020 launch of ETH 2.0 kept bullish momentum high enough for a record-setting nine full weeks of consecutive green candles.
Related Reading | Nearly 2% of the Ethereum Supply is Margin Long on Bitfinex, But Why?
But a doji on monthly price charts for ETHUSD suggest investors are feeling indecisive.
On the ETHBTC trading pair, things look even worse. A long-term channel has formed, as can be seen below in the pitchfork tool.
Pitchforks are broken into four distinct quadrants. The way traders utilize this tool, is by watching for a break or rejection of one of the four quadrants.
For example, if price is rejected from the lowest quadrant, it suggests that a test of one of the upper three quadrants is next.
Ethereum’s top at over 0.15 BTC on the ratio kicked off the pitchfork channel, which then fell through each quadrant, bouncing off the bottom.
Remaining bullish sentiment surrounding altcoins caused a second surge to the top of the tool, which was rejected back into the second-highest zone.
Related Reading | Doji Forming On Ethereum Monthly Hints At Investor Indecision
Since then, Ethereum has been trapped within the two middle quadrants. The altcoin made two more attempts recently to break up into the top quadrant but has been rejected twice now.
As explained earlier, rejection from the middle-top quadrant could lead to retests of the lower two quadrants.
The bottom of the lowest quadrant happens to line up well with untested support from late 2016 and early 2017 before the crypto hype bubble kicked off.
This area could act as the final bottom for ETHBTC before the smart contract-focused altcoin finally plays catch up against the first-ever cryptocurrency.
This represents another over 50% drop from current levels at 0.0225 on the ratio, to as low as 0.0075.
By comparison, Bitcoin remains down slightly over 50% from its all-time high, while Ethereum is down by 85%.
At the height of the crypto bubble, the ICO boom drove Ethereum prices to as high as $1,400 per ETH token. To revisit such highs, the top altcoin would require an over 550% return on investment to make a full recovery.
Some crypto analysts claim that Ethereum and other altcoins may never revisit all-time highs, even if Bitcoin reaches prices of $100,000 per BTC in the future.
The math adds up. If Ethereum does indeed fall to that level on the ratio, and Bitcoin did reach levels of $100,000 per BTC at the same time, each ETH token would be priced at $750. This would still represent an over 300% climb for the second-ranked crypto asset. origin »
Ethereum's dominance dipped below 14%
Short-term net inflows suggested selling pressure, while long-term outflows indicated potential accumulation
Ethereum’s (ETH) dominance within the cryThe post Ethereum's dominance crashes to 13% - A decline to 9% next before 2025 rebound? appeared first on AMBCrypto.
Ethereum’s market dominance has dropped to range lows at 13%.
The declining market share comes amid weakening demand, rising supply, and Bitcoin’s rising dominance.
Ethereum [ETH] has The post Ethereum dominance struggles at 13% - What’s going on? appeared first on AMBCrypto.
Ethereum's grip on DEX dominance is slipping, signaling a new era in decentralized trading.
However, Ethereum's innovative Layer 2 solutions are recapturing lost traffic and solidifying its posThe post Ethereum: Shifting tides in DEX dominance and the rise of Layer-2 solutions appeared first on AMBCrypto.
Glassnode data analyzed by CryptoSlate indicates that Ethereum’s (ETH) dominance over stablecoins has been increasing and reached its highest in the last three months.
The post Ethereum stablecoin dominance reaches 3-month high appeared first on CryptoSlate.
The crypto-market noted a minor surge recently, one which propelled the collective market cap to $250 billion as Bitcoin's dominance continued to remain around the 65% mark. While this latest swing toThe post Tezos struggles as Ethereum Classic, VeChain revisit uptrends appeared first on AMBCrypto.
The Bitcoin dominance rate (BTCD) has been decreasing rapidly since May 14. This downward move has caused it to fall below an important resistance line, above which it was previously believed that it had broken out from.
The cryptocurrency market underwent a decline which drove the collective market cap to $246 billion, at the time of writing. Following this, Bitcoin fell below $9,000-mark while its dominance also tooThe post Ethereum, Stellar lose momentum while Decred sees bullish revival appeared first on AMBCrypto.
Tether finally overtook XRP’s spot in the list of cryptocurrencies with the largest marketcap. Will it have what it takes to dethrone Ethereum?. The Tether Treasury could be standing in a whole new arena on its battle for the dominance of the crypto ecosystem, with Ethereum on its focus as the last objective before the […]
Aside from a few stragglers, as Bitcoin has rallied over the past few weeks, so to have altcoins. Ethereum is up more than 100% from the $88 lows of March, while XRP has nearly doubled, crossing $0.
Improvement proposals are crucial to the health and evolution of cryptocurrencies, with the Bitcoin and Ethereum's ecosystems at the forefront of several improvement proposals since their inceptions.
Stellar (XLM) has been on a roll recently surging by more than 60% during the past 12 days outperforming most cryptos including Ethereum. According to a recent report by ‘Santiment’, Stellar has not only seen an increase in price but also in social activity.
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The dominance of Bitcoin, the world's largest cryptocurrency, in the market and its high correlation with many of the market's altcoins is a huge factor contributing to the fortunes of the altcoin marThe post Ethereum, Zcash, ALGO's recovery efforts find pace after market pump appeared first on AMBCrypto.
On March 25, the Bitcoin dominance rate reached a high of 67. 99%. It has been decreasing ever since. Interestingly, the ETH/BTC pair reached a low on the same date and has been increasing ever since.
The collective market cap, at press time, rose to $209. 7 billion, for the first time since the market's collapse on 12 March. In fact, at the time of writing, Bitcoin's dominance had dropped to 64.
In brief: The Bitcoin dominance on Coinmarketcap is steady at around 65%. Ethereum’s dominance in the market currently stands at 8. 23%. In the past few days, ETH has had a hard time reclaiming the $140 support zone.
Another day, another market correction. The collective cryptocurrency market fell to a market cap of $168 billion as Bitcoin's dominance stood firm at 65%. Following Bitcoin's footsteps were alts and The post Ethereum Classic, Maker, Bitcoin Cash price: Alts hint at mild revival signs appeared first on AMBCrypto.
Complex transactions on Ethereum are on their way to overtake simple transfers, data has shown, pointing to the fact that the network could be regaining dominance from Bitcoin. According to an analysis from Defiant, transactions with smart contract executions have grown relative to transactions with simple token transfers.
As we enter the final week of March, users in the digital asset space are bracing themselves for another unexpected tussle. The current month has been as unpredictable as the weather, with the marketsThe post Ethereum, XRP struggle to improve market dominance; BTC marches ahead appeared first on AMBCrypto.
Although the whole crypto market has now experienced almost two weeks of downside action, altcoins have suffered a bit more than Bitcoin which was recently re-testing $9,000. During the recent mini bull run, Bitcoin started losing a lot of market dominance dropping from a high of 69% to 60.
As Bitcoin's dominance took a dip, altcoins have posted major gains. Many lesser-known altcoins breached significant resistance levels as they rallied. As market observers anticipated for an alt-seasoThe post Tezos, Chainlink continue positive trend as Ethereum Classic struggles near critical support appeared first on AMBCrypto.
• Bulls are in the dominance of the market. • The crypto continues to trade in the bullish trend zone. ETH/USD Medium-term Trend: Bullish • Resistance levels : $280. 00, $290. 00, $300. 00 • Support levels: $110.
Altcoin dominance broke above a significant resistance level, suggesting a further advance. The upswing could indicate the beginning of a new “altseason.” Altcoins Could Gain Significant Market Share At the...The post Altcoin Dominance Rising: Ethereum Leads, XRP and Litecoin Lag appeared first on Cryptocurrency News.
Over the past month, altcoins have finally started to break higher, reversing the Bitcoin-centric trend seen in the crypto market throughout all of 2019. In fact, the BTC dominance metric has dropped to 66% over the past week, with digital assets like Ethereum, XRP, and Litecoin starting to outpace the market leader.
Most cryptocurrencies have been rallying this week, however, Bitcoin’s pump yesterday caused many altcoins – such as Ripple, Ethereum, and many more – to retrace against BTC. That trend is now expected to continue, causing a larger rise in BTC dominance, to as much as 80% of the total crypto market.
As decentralized finance gains steam how much of it will depend on Ethereum? Well, it depends on how long Ethereum 2. 0 takes to launch. DeFi’s Dominance The number two blockchain hosts the largest number of developers, and thus reports the most activity, according to data from August 2019.
The cryptocurrency market has been increasing throughout 2019. This increase has been more pronounced in the Bitcoin price rather than altcoins, like Ethereum — causing the BTC dominance rate to increase.
The dominance of Bitcoin’s (BTC) market cap has been steadily increasing since January 2018. A lot of this can be attributed to the series of positive developments for BTC, which have been somewhat lacking in the rest of the industry.
Special thanks to the Gitcoin team and especially Frank Chen for working with me through these numbers
The next round of Gitcoin Grants quadratic funding has just finished, and we the numbers for how much each project has received were just released.
Altcoins like Ethereum, Litecoin, and XRP have struggled to recapture lost market share from Bitcoin in 2019. This has been reflected by a sharp increase in Bitcoin dominance – a metric that has increased steadily throughout the year.
The Current Market Situation As of October 4rd, crypto markets are still struggling to recover. Since its last sharp drop, BTC fails to retrace to $8500 level while many other currencies see significant losses.
Bitcoin is the undisputed king of cryptocurrencies. With a dominance index of over 60 percent in the cryptocurrency market, there is no denying its substantially commanding position in the market.
The Current Market Situation As of October 4th, crypto markets are still struggling to recover. Since its last sharp drop, BTC fails to retrace to $8500 level while many other currencies see significant losses.
Altcoins such as Ethereum, XRP, and Litecoin are finally showing significant moves, regaining some of the market dominance they lost to Bitcoin year-to-date. If the trend continues it could mark the beginning of a new “altseason.
The latest cryptocurrency market swing prompted two prominent coins to breach significant resistance levels. As the cryptocurrencies extended gains above key levels, Ethereum surged over its $200-level and XRP also broke the $0.
Ethereum is seeing an outstanding rally against Bitcoin—fueled by strong network fundamentals—while the overall altcoin market sees some relief after months of bleeding. Altcoins in the green Altcoins are finally getting some relief after getting pummeled, in Bitcoin terms, since the beginning of the year.
After consolidating low in the charts for the past couple months, major altcoins were moving in a direction which could revive some of its early-year optimism. Bitcoin dominance was still above 70 percent at press time, as alts tried to make a comeback in the market.
Over the past 24 hours, Bitcoin [BTC] witnessed a minor hike of 1. 02 percent but the rest of the alts collectively declined. The prices were going down according to coinmarketcap. com and the trend appeared bearish for the other assets.
Today was a weird day for the crypto markets. For the first time in seeming months, altcoins dramatically outperformed Bitcoin — managing to gain multiple percent on the market leader. While Bitcoin has gained 2.
Despite the pessimism seen across the crypto community in regards to altcoins, the following technical analysis will evaluate whether Ethereum, XRP and Litecoin are bound for an upswing. At the moment, altcoins continue limping without any significant price movement.
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Since early 2016 Ethereum has regularly held the No. 2 crypto position - buoyed by a compelling ‘world’s computer’ narrative, and the promise of smart contracts driving transactional efficiency to new heights.
The largest cryptocurrency in the market – Bitcoin – tumbled below the $11,000 mark earlier today, reaching a low of $10,880. 05 on Coinbase. According to CoinMarketCap, the cryptocurrency continues to rule the market with a whopping 68.
Bitcoin Price Analysis (BTC/USD) According to an hourly chart, BTC/USD pair has been facing a high vitality in the last 24hrs. BTC/USD pair has thereby slightly dipped by 0. 89% since it opened trading yesterday at $11914.
Bitcoin price extended losses and traded below the $95,000 zone. BTC is showing bearish signs and might decline heavily below the $92,000 level. Bitcoin started a fresh decline below the $95,000 zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.
Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone.
Bitcoin price started another increase above the $106,000 resistance zone. BTC traded to a new all-time high above $108,000 and is currently correcting gains. Bitcoin started a fresh surge above the $106,000 zone.
Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.
Elon Musk’s crypto investments have soared to staggering new heights, with the combined Bitcoin holdings of Tesla and SpaceX reaching an estimated value of $2 billion.
