Bitcoin holds its ground Ethereum breaks ground
BTC futures are trading down by $3,100 or 5.37% on the day, closing just below the 50-day moving average
Bitcoin futures have been trading sideways in March, and we see this pattern likely to continue for the rest of the month.
Ethereum, however, has been making new highs and over the weekend broke above $4,000 for the first time in history. Considering that Ethereum in the spot market started last week out at $3,300 and a month ago was trading at $2,125, we have certainly seen a meteoric rise in the world’s second-largest cryptocurrency. In fact, over the past month, Bitcoin has fallen by nearly 7%, while Ethereum has risen by 86%.
And while Bitcoin still holds the title of the largest market cap, in terms of volume however Ethereum is almost at par with Bitcoin.
To those who took our call on April 28th to re-enter Ethereum by buying on spot exchanges ($2,7000 at the time) or for those without accounts on such exchanges to buy ETHE (Ethereum Greyscale Trust trading at $27.43 per share on April 28th, congratulations! ETHE is now trading at $37.35 per share, and it is now time to move your stops up to $34.50.