Bitcoin’s Surge and Ethereum’s Struggles
While Bitcoin (BTC) has been racing from record to record following Donald Trump’s presidential victory, the second-largest cryptocurrency by market cap, Ethereum (ETH), has been lagging behind with its weak performance.
The situation has not changed yet, and while Ethereum continues to show weakness against Bitcoin, analyst Peter Brandt, who has over 50 years of experience, warned investors about ETH.
Responding to a user’s post, Brandt shared a chart of the ETH/BTC pair that highlights a continuing decline.
The chart shows that Ethereum has been steadily falling against Bitcoin in recent months as it has failed to keep up with the momentum in Bitcoin.
Brandt drew attention to the ongoing downtrend in the ETH/BTC pair and warned that Ethereum could continue to lose value against Bitcoin.
According to the data, Bitcoin increased by 53 percent on an annual basis, while Ethereum lost 42 percent of its value.
There was also a positive development for ETH in response to Peter Brandt’s warning. Accordingly, US Ethereum ETFs experienced their first positive net inflows after eight weeks of outflows. Although the inflows remained relatively modest, they indicate a potential change in sentiment for ETH.
*This is not investment advice.
