{"id":412861,"date":"2020-01-30T17:00:35","date_gmt":"2020-01-30T17:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=412861"},"modified":"2020-01-30T16:43:44","modified_gmt":"2020-01-30T16:43:44","slug":"ethereum-pattern-points-to-further-underperformance-despite-bitcoin-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-pattern-points-to-further-underperformance-despite-bitcoin-rally\/","title":{"rendered":"Ethereum Pattern Points To Further Underperformance, Despite Bitcoin Rally"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The altcoin market recently caught fire after its total market cap and individual crypto assets like <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>, Dash, and Litecoin began popping off and breaking through their downtrend resistance lines.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It resulted in over 50% returns in just over a month, however, according to the ETH\/BTC trading pair, Ethereum may be poised for continued underperformance against Bitcoin. And with Ethereum often being a leading indicator for the rest of the altcoin market, Bitcoin dominance may continue to rise further causing altcoins to continue to bleed out.<\/span><\/p>\n<h2>Ethereum to Underperform Against Bitcoin For Foreseeable Future<\/h2>\n<p class=\"p1\"><span class=\"s1\">Following Bitcoin and Ethereum\u2019s side-by-side meteoric rise into stardom, both assets corrected significantly, resulting in an over 80% drawdown for Bitcoin and a 90% decline for Ethereum\u2013 along with a two-year-long bear market.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As the two assets dropped, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> fell harder than the first-ever cryptocurrency, wiping out a larger percentage of value from its market cap from all-time high prices.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2020\/01\/16\/this-surprising-cryptocurrency-may-hold-clues-to-bitcoin-and-ethereums-final-bottom\/\">This Surprising Cryptocurrency May Hold Clues to Bitcoin and Ethereum\u2019s Final Bottom<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">As the crypto market began to rebound in early 2019, Ethereum and the rest of the altcoin market continued to underperform against the leading cryptocurrency by market cap.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">That underperformance looks to continue into 2020, according to one crypto analyst, who sees very little probability in <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>\u2019s bottom being in on the ETH\/BTC trading pair.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a><\/p>\n<p>Somehow the ETH bottom attempts are getting weaker, not stronger.<br \/>There is a chance this is the bottom but I think it&#39;s pretty minuscule.<br \/>Reclaim the &quot;not bad&quot; trading range and I&#39;ll change my tune.<\/p>\n<p>Hard to ignore that this isn&#39;t a bullish chart, not yet anyway. <a href=\"https:\/\/t.co\/L14Xf7AexR\" rel=\"nofollow\">pic.twitter.com\/L14Xf7AexR<\/a><\/p>\n<p>&mdash; DonAlt (@CryptoDonAlt) <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/39649792?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 30, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">According to the analyst, each bottom attempt ETH makes against BTC has gotten weaker and weaker, not stronger, suggesting that more downside may be ahead.<\/span><\/p>\n<h2>Has ETH\/BTC Bottomed, or Is More Downside Ahead for Altcoins?<\/h2>\n<p class=\"p1\"><span class=\"s1\">While the analyst doesn\u2019t rule out that the bottom could be in, he believes the chance is \u201cpretty minuscule.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The only thing that would get the analyst to consider a bullish alternative, is <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> reclaiming the \u201cnot bad\u201d trading zone between 0.43 and 0.25 on the ratio.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> had fallen from $20,000 to $3,000, <a href=\"https:\/\/ethereumprice.org\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Ethereum had also fallen from $1,400 to $80<\/a>. But at the same time, Ethereum had been trading at 0.125 on the ratio against Bitcoin but has fallen significantly to just 0.016 at the low.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Altcoins like Ethereum and many others have continued to bleed out against Bitcoin, but BTC dominance has been showing signs of potentially reversing, suggesting that altcoins could soon recover.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2020\/01\/08\/recent-ripple-ethereum-rallies-rejected-btc-dominance-to-rise-again\/\">Ethereum, XRP Set For More Devastation According to BTC Dominance\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">But with Ethereum often leading the charge for altcoins alongside other big ten cryptos like Litecoin and XRP, its chart showing weakness against Bitcoin could indicate that <a href=\"https:\/\/uniquehot.com\/2020\/01\/08\/recent-ripple-ethereum-rallies-rejected-btc-dominance-to-rise-again\/\">alts have more to suffer<\/a> before they catch up to their crypto big brother.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Has the number two cryptocurrency by market cap bottomed against Bitcoin? And is the crypto market ready for a new bull run? Let us know in the comments below.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The altcoin market recently caught fire after its total market cap and individual crypto assets like Ethereum, Dash, and Litecoin began popping off and breaking through their downtrend resistance lines. It resulted in over 50% returns in just over a month, however, according to the ETH\/BTC trading pair, Ethereum may be poised for continued underperformance against Bitcoin. And with Ethereum often being a leading indicator for the rest of the altcoin market, Bitcoin dominance may continue to rise further causing altcoins to continue to bleed out. Ethereum to Underperform Against Bitcoin For Foreseeable Future Following Bitcoin and Ethereum\u2019s side-by-side meteoric rise into stardom, both assets corrected significantly, resulting in an over 80% drawdown for Bitcoin and a 90% decline for Ethereum\u2013 along with a two-year-long bear market. As the two assets dropped, Ethereum fell harder than the first-ever cryptocurrency, wiping out a larger percentage of value from its market cap from all-time high prices. Related Reading | This Surprising Cryptocurrency May Hold Clues to Bitcoin and Ethereum\u2019s Final Bottom As the crypto market began to rebound in early 2019, Ethereum and the rest of the altcoin market continued to underperform against the leading cryptocurrency by market cap. That underperformance looks to continue into 2020, according to one crypto analyst, who sees very little probability in Ethereum\u2019s bottom being in on the ETH\/BTC trading pair. $ETH Somehow the ETH bottom attempts are getting weaker, not stronger.There is a chance this is the bottom but I think it&#39;s pretty minuscule.Reclaim the &quot;not bad&quot; trading range and I&#39;ll change my tune. Hard to ignore that this isn&#39;t a bullish chart, not yet anyway. pic.twitter.com\/L14Xf7AexR &mdash; DonAlt (@CryptoDonAlt) January 30, 2020 According to the analyst, each bottom attempt ETH makes against BTC has gotten weaker and weaker, not stronger, suggesting that more downside may be ahead. Has ETH\/BTC Bottomed, or Is More Downside Ahead for Altcoins? While the analyst doesn\u2019t rule out that the bottom could be in, he believes the chance is \u201cpretty minuscule.\u201d The only thing that would get the analyst to consider a bullish alternative, is Ethereum reclaiming the \u201cnot bad\u201d trading zone between 0.43 and 0.25 on the ratio. While Bitcoin had fallen from $20,000 to $3,000, Ethereum had also fallen from $1,400 to $80. But at the same time, Ethereum had been trading at 0.125 on the ratio against Bitcoin but has fallen significantly to just 0.016 at the low. Altcoins like Ethereum and many others have continued to bleed out against Bitcoin, but BTC dominance has been showing signs of potentially reversing, suggesting that altcoins could soon recover. Related Reading | Ethereum, XRP Set For More Devastation According to BTC Dominance\u00a0 But with Ethereum often leading the charge for altcoins alongside other big ten cryptos like Litecoin and XRP, its chart showing weakness against Bitcoin could indicate that alts have more to suffer before they catch up to their crypto big brother. Has the number two cryptocurrency by market cap bottomed against Bitcoin? And is the crypto market ready for a new bull run? Let us know in the comments below. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":412867,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[142,428,42860,57192,1946],"class_list":["post-412861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-altcoins","tag-bitcoin","tag-donalt","tag-eth-btc","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Pattern Points To Further Underperformance, Despite Bitcoin Rally<\/title>\n<meta name=\"description\" content=\"The altcoin market recently caught fire after its total market cap and individual crypto assets like Ethereum, Dash, and Litecoin began popping off and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ethereum-pattern-points-to-further-underperformance-despite-bitcoin-rally\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Pattern Points To Further Underperformance, Despite Bitcoin Rally\" \/>\n<meta property=\"og:description\" content=\"The altcoin market recently caught fire after its total market cap and individual crypto assets like Ethereum, Dash, and Litecoin began popping off and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ethereum-pattern-points-to-further-underperformance-despite-bitcoin-rally\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-30T17:00:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-30T16:43:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/01\/ethereum-bitcoin-altcoins-crypto-shutterstock_1155300880.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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