Ether Struggles as Bitcoin Surges: Analyzing the ETH/BTC Ratio’s Historic Drop

Coin-Turk 8 months ago 146

A significant development has emerged in the cryptocurrency market. Ether (ETH ($3,998.26)) has plummeted to its lowest level against Bitcoin (BTC ($111,002.00)) $105,189 in four years. On Wednesday, the ETH/BTC ratio fell to 0.02993, marking a level not seen since 2020. This decline reflects Ethereum’s worst performance since its inception in 2015. Experts emphasize that the drop is attributed to Bitcoin’s robust surge and Ethereum’s scalability issues.

Historic Decline in the ETH/BTC Ratio

The loss of value for Ether against Bitcoin has noticeably increased in recent months. Since the collapse of FTX in November 2022, the ETH/BTC ratio has decreased by 15%. The ratio falling below 0.0300 has triggered concerns among traders. The previous low was recorded in January 2021. Over the past year, the ratio between the two assets has declined by 44%.

Bitcoin surged from $98,000 to $105,000, influenced ...

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