ETH/BTC Continues to Decline — Ethereum’s Weakness to Bitcoin Price Influence

Fabozzi
Fabozzi
Sep 9, 2018 · 2 min read

Ethereum dipped below $200 USD today reaching as low as $190. While Bitcoin finds a support line at $6,000 (which I have mentioned in a previous post as something I am anticipating for the price to break below in October 2018), Ethereum’s price (not necessarily value) continues to break past support.

ETH/USD Continues to break below support levels

This ongoing relationship is easiest viewed in the Ethereum cross rate against Bitcoin:

BTC/ETH Cross Rates

Ripple also continues to show similar declines against Bitcoin:

XRP/BTC Cross Rates

I expect this trend of major altcoins to continue in the coming months, and should Bitcoin indeed finally break below the $6,000 support, it could lead to some serious risk management trading action for major altcoin investors. This might include selling out into Tether or Hodling in Bitcoin across the market decline.

(*This is not trading or investment advice*)

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