In the same month, Bitcoin fell less than 10%, while Ethereum dropped 17%. Ethereum is now at $2,236, less than 3% above its 30-day low of $2,170. Its exchange rate against Bitcoin has also slid to 0.0295, close to the bottom of its range this month.
Put simply, when prices fall, Ethereum always drops a bit more than Bitcoin—and when they rise, it gains a bit more too. This isn’t the first time. My position is clear: I’m comfortable holding Bitcoin, but I can’t say Ethereum looks cheap at this level either—it depends on whether it can hold $2,170.
Here’s the practical question for tonight: if you’re holding Bitcoin, which side are you on—A) swap half for Ethereum, betting that after falling more, it’ll rebound more too; or B) stick with Bitcoin, accept that the weaker one is weaker, and don’t try to catch a falling knife?
$ETH $BTC
Put simply, when prices fall, Ethereum always drops a bit more than Bitcoin—and when they rise, it gains a bit more too. This isn’t the first time. My position is clear: I’m comfortable holding Bitcoin, but I can’t say Ethereum looks cheap at this level either—it depends on whether it can hold $2,170.
Here’s the practical question for tonight: if you’re holding Bitcoin, which side are you on—A) swap half for Ethereum, betting that after falling more, it’ll rebound more too; or B) stick with Bitcoin, accept that the weaker one is weaker, and don’t try to catch a falling knife?
$ETH $BTC
