ETH tapped its lowest price against BTC in the last 20 months.
The altcoin price may increase in Q1 due to its scheduled major upgrade.
AMBCrypto’s analysis of the ETH/BTC chart showed that the altcoin slipped to its lowest against Bitcoin [BTC] since May 2022.
According to data from TradingView, Ethereum’s [ETH] price fell against BTC by 32.68% in the last 365 days. The last six months have not been any better as it dropped by 18.80% to 0.048 BTC.
Source: TradingView
Fake approval falls in ETH’s favor
A major reason for the development is the optimism around the Bitcoin ETF. Many market participants believe that the potential approval of the Bitcoin ETFs would be great for the market.
This has also been obvious in Bitcoin’s performance which had a 170% increase in 2023. But on the 9th of January, AMBCrypto reported how the U.S. SEC’s X account was compromised, leading the hackers to announce that all the spot ETFs had been approved.
This development sparked an increase i
We współpracy z: https://ambcrypto.com/ethereum-tumbles-against-btc-can-it-make-a-comeback/
