RATE Group | Three Reasons Why Ethereum is Weaker Relative to Bitcoin, And is Down 89% From ATH
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Three Reasons Why Ethereum is Weaker Relative to Bitcoin, And is Down 89% From ATH

24 Jan Three Reasons Why Ethereum is Weaker Relative to Bitcoin, And is Down 89% From ATH

Posted at 14:58h in Ethereum News by

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For much of recent years, crypto enthusiasts hoped that Ethereum would take Bitcoin’s place to become the leading blockchain project by market valuation. But heading into 2020, the so-called “flippening” has still not arrived.

Ethereum’s native token, dubbed as Ether, is down by circa 89 percent from its historic high of $1,419.60 (data from Coinbase). On the other hand, bitcoin’s sell-off appears dwarfed, with its rate plunging by a little more than 50 percent from its all-time high.

ethereum, cryptocurrency, bitcoin, crypto

Ethereum down 89%, shows slow recovery compared to bitcoin | Source: TradingView.com, Coinbase

The drop suggests that investors exposed to both Ether and Bitcoin became the victim of 2017’s infamous cryptocurrency mania. Nevertheless, those who trusted Ether over Bitcoin are sitting atop more losses – and they continue to face the risks of further downsides due to the three crucial factors as explained below.

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