Ethereum

Solv Protocol

2024

April

<div class="finbold">
 <p class="paragraph">Ethereum (ETH) has reached its lowest value against Bitcoin (BTC) in a <a rel="noopener noreferrer nofollow" title="3-year" href="https://thebittimes.com/tag/3-year.html">3-year</a> time frame, worth 0.04872 BTC. This <a rel="noopener noreferrer nofollow" title="3-year" href="https://thebittimes.com/tag/3-year.html">3-year</a> low ETH/BTC exchange rate challenges what Ethereum enthusiasts call “the <a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a>.”</p>
 <p class="paragraph"><em>Barchart</em> noticed the new record lows and reported about it on April 5, sharing a daily price chart for ETH/BTC. On that chart, we see Ethereum breaking this time frame’s previous low of January 2024 against Bitcoin.</p>
 <p class="paragraph">Notably, these are part of a visible downtrend that came from September 2022 after the cryptocurrency market crash. During the crash, Ethereum massively dropped against Bitcoin, reaching the period’s previous lows at 0.04908 BTC.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="665" src="https://cdn.thebittimes.com/images/2024/04/06/f7710dc283a205b2079a94b7d14948b5.webp" alt class="wp-image-166875" srcset="https://cdn.thebittimes.com/images/2024/04/06/f7710dc283a205b2079a94b7d14948b5.webp 1024w, https://cdn.thebittimes.com/images/2024/04/06/f7710dc283a205b2079a94b7d14948b5.webp 300w, https://cdn.thebittimes.com/images/2024/04/06/f7710dc283a205b2079a94b7d14948b5.webp 768w, https://cdn.thebittimes.com/images/2024/04/06/f7710dc283a205b2079a94b7d14948b5.webp 1256w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Ethereum vs. Bitcoin (ETH/BTC) daily chart. Source <em>Barchart</em>
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 <h2 class="wp-block-heading" id="h-ethereum-vs-bitcoin-<a rel=" dofollow title="Category Analysis" href="https://thebittimes.com/analysis.html" rel="noopener noreferrer nofollow">Analysis-and-the-<a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a>"&gt;Ethereum vs. Bitcoin <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and the <a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a></h2>
 <p class="paragraph">This mid-term price action has raised questions about Ethereum’s ability to surpass Bitcoin’s market cap. An expected event that is commonly known as “the <a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a>,” backed by the idea that ETH can be a better store of value than BTC, due to supposedly better economic fundamentals and demand.</p>
 <p class="paragraph">While some cryptocurrency traders see the new <a rel="noopener noreferrer nofollow" title="3-year" href="https://thebittimes.com/tag/3-year.html">3-year</a> low as a signal that “the <a rel="noopener noreferrer nofollow" title="flippening" href="https://thebittimes.com/tag/flippening.html">flippening</a>” will not happen anymore, others look at it as a buying opportunity. <em>Matt’s Investing Journey</em> commented with this optimistic bias in <em>Barchart</em>‘s post.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Buying opportunities are coming soon.”</p>
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 <p class="paragraph">In this context, Finbold zoomed out the ETH/BTC chart, looking at monthly candles throughout the pair’s history.</p>
 <p class="paragraph">Historically, every time Ethereum crossed the 0.04880 price level against Bitcoin, it rallied to higher grounds. Moreover, the current level made significant support for ETH/BTC, also igniting price surges after hitting this mark.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="662" src="https://cdn.thebittimes.com/images/2024/04/06/e7189a004fa327a879c1d37ffaeb3cdb.webp" alt class="wp-image-166876" srcset="https://cdn.thebittimes.com/images/2024/04/06/e7189a004fa327a879c1d37ffaeb3cdb.webp 1024w, https://cdn.thebittimes.com/images/2024/04/06/e7189a004fa327a879c1d37ffaeb3cdb.webp 300w, https://cdn.thebittimes.com/images/2024/04/06/e7189a004fa327a879c1d37ffaeb3cdb.webp 768w, https://cdn.thebittimes.com/images/2024/04/06/e7189a004fa327a879c1d37ffaeb3cdb.webp 1536w, https://cdn.thebittimes.com/images/2024/04/06/e7189a004fa327a879c1d37ffaeb3cdb.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ETH/BTC monthly chart on Binance. Source: <em>TradingView</em> (Finbold)
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 <p class="paragraph">In particular, this happened in April 2017, November 2017, May 2021, and June 2022. All key moments for cryptocurrencies, resulting in gains as high as 200% for Ethereum against Bitcoin, rewarding ETH investors.</p>
 <p class="paragraph">All things considered, the recent downtrend is strong evidence of Ethereum losing its value against Bitcoin in the past three years. However, it is also a historical indicator that ETH could soon outperform BTC’s mid-term results if the trend reverses.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-at-3-year-low-vs-bitcoin-is-the-flippening-over-tbt84586.html">https://thebittimes.com/ethereum-at-3-year-low-vs-bitcoin-is-the-flippening-over-tbt84586.html</a></p>

Ethereum at 3-year low vs. Bitcoin; Is the flippening over?

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