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Ethereum’s Downward Spiral: The Crypto King Has Finally Met Its Match – And It’s Not Even Close

A  illustration of a cryptocurrency chart with an inverted 'cup' and handle pattern, breaking down to the neckline support line as Bitcoin rises above it, while a red wave (exponential moving average) is visible on the right side of the screen in the background.

Ethereum’s latest dive to a 42-month low against Bitcoin is music to my ears – not because I’m some kind of crypto-hater, but because it just proves what we all knew: Ethereum was always the weak link in this whole ‘blockchain revolution’ nonsense. The fact that its native token Ether (ETH) has lost nearly half its value since 2022 and continues losing strength against Bitcoin (BTC), with no end in sight, is a clear indication of one thing – investors are smarter than they think.

Source: cointelegraph

Ethereum’s native token, Ether (ETH), continues losing its strength against Bitcoin (BTC), with the ETH/BTC pair treading around 0.0365 BTC as of Oct. 25, its lowest level since April 2021. ETH/BTC daily price chart. Source: TradingView Underwhelming exchange-traded fund launches and increasing competition with smart contracts rival Solana have sapped traders’ appetite for Ethereum in 2024. These factors may continue pressuring ETH/BTC lower in the coming months, with technical indicators […]

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