Bitcoin (BTC) Clearly Beating Ethereum, but in Unexpected Way

Sat, 30/03/2024 – 11:59

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Bitcoin has been more up and down than Ethereum (ETH) recently, but not just in price. It is actually moving up and down more. This means Bitcoin’s volatility has been substantially higher than Ethereum’s, which is not usual.

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In the last 30 days, Bitcoin’s volatility has gone up to 60%. This is more than Ethereum since February. It looks like Bitcoin is going through bigger price changes, and this might actually be good for it as risk demand stays high. It could mean more traders are paying attention to Bitcoin than Ethereum.

ETHUSD Chart
ETH/USDT Chart by TradingView

When we look at how Bitcoin’s price has been changing, we see that it has been close to the important price of $66,519. This is a price where Bitcoin has managed to not go lower before. If Bitcoin stays above this price, it might be getting ready to try to go higher toward $69,350. If Bitcoin goes higher than this, it could start going up a lot again.

Ethereum is different. It has been more steady and has not had as big price changes as Bitcoin. Ethereum’s price that is important to watch is around $2,979.5. If Ethereum’s price does not go lower than this, it might start to go up again, maybe even toward $3,502.6. But because Ethereum has not been as up and down as Bitcoin, it does not seem as risky or exciting to traders right now.

Bitcoin’s high volatility could be a crucial signal for investors. But this also means Bitcoin could be riskier to buy because its price is less predictable and might cause some serious losses among investors.

Right now, it looks like Bitcoin is getting more attention than Ethereum because it offers way more risk exposure. Ethereum keeps on growing slowly and shows a dynamic somewhat similar to stocks.

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