RATE Group | Ethereum: USD/ETH (ETH=) and Bitcoin Cash Surge as Cryptocurrency Rally Widens
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Ethereum: USD/ETH (ETH=) and Bitcoin Cash Surge as Cryptocurrency Rally Widens

06 Feb Ethereum: USD/ETH (ETH=) and Bitcoin Cash Surge as Cryptocurrency Rally Widens

Posted at 11:05h in Cryptocurrency News by

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Ethereum: USD/ETH (ETH=) and Bitcoin Cash Surge as Cryptocurrency Rally Widens

Ethereum (ETHUSD) is up more than 5 percent in the last 24 hours, while Bitcoin Cash (BCHUSD) has advanced 11 percent. ETHUSD is the world’s second-biggest cryptocurrency, accounting for almost 8 percent of the market. BCHUSD ranks No. 4 at less than 3 percent.

So-called altcoins, or alternatives to the original Bitcoin (BTCUSD), have outperformed since mid-January. That marks a change in sentiment from the previous two years, when they lagged BTCUSD by a wide margin.

It could be positive for cryptocurrencies because altcoins rose more than BTCUSD during the last bull market of 2016 and 2017. It’s similar to breadth in the stock market, when investors widen their buying into smaller companies as prices advance.

No single news event seems to explain the strength in altcoins, although attention seems to be returning to cryptos. Earlier this week, for instance, CNBC reported that BTCUSD had…

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