• Bitcoin has been a laggard compared to Ethereum.
  • The rallies are smaller for BTC and bigger for ETH.

In an epic battle for thrones, although still early days, but seems BTC bulls have been losing the battle to the Ethereum's as the rally so far that started in early April, shows ETH has far outpaced BTC in the gains and if this continues, it won't be long before ETH reaches all time highs much before BTC does.

BTC/USD, has gained about 42 percent from April lows which, though looks impressive but pales in comparison to ETH/USD's 114 percent gain. Even in terms of retracement levels, while BTC has barely managed to surpass its first barrier of 28.6 percent, ETH is sitting comfortably above 38.2 percent mark.

BTC, for the day now is down nearly 2 percent at $9,650 while ETH is down nearly 4 percent at $786. On the hourly chart, BTC now sits exactly at the ascending trendline's support of $9,626 while ETH flirting with long term trendline support of $791.

This brings back the theory which did rounds earlier this year - Can Ethereum become the largest cryptocurrency by market capitalisation by displacing Bitcoin? I guess we may not have to wait long to know the answer, if the volatility in the crypto world remains the way it has always been. (Read earlier related story here)

BTC v/s ETH - April to date performance:

BTC/USD hourly chart:

ETH/USD daily chart:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD must overcome resistance at $8,985 to re-enter the $9,000 zone

BTC/USD has had a bearish start to the day following a bullish Tue. So far this Wed, the price of the asset went down from $8,811.45 to $8,773. This followed a pretty bullish Tue, wherein BTC/USD went up from $8,720.50 to $8,811.45.

More Bitcoin News

Ripple price overview: XRP/USD triangle breakout fails to materialize

XRP is also in the red on the third day of this week’s trading. The Asian trading session has been characterized by bearish action where Ripple kicked off the day at $0.2722 but touched an intraday ...

More Ripple News

ETH/USD keeps trending horizontally in a narrow $11-range

ETH/USD daily chart keeps trending horizontally in a narrow $11-range between $191 and $180. Currently, Ethereum is priced at around $185.85 and is floating above ...

More Ethereum News

Chinese news agency hails bitcoin as “first successful application of blockchain”

Xinhua, a Chinese state news agency, recently praised bitcoin in a front-page article. The flagship cryptocurrency was hailed as blockchain technology’s first successful application.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast