ETHER OUTSHINES BITCOIN IN A GLOOMY MONTH FOR CRYPTO PRICES That Wins Customers
September is a difficult month for Bitcoin and the broader market for cryptocurrency, but ether has gone through a storm better than most.
Bitcoin (BTC), the market leading crypto currency, has lost more than 16 percent a month, the most since November 2018, CoinMarketCap said. The BTC currently trades around $ 8,070 and has reached a 3.5-month low of $ 7,838 today.
Meanwhile, the total market capitalization of all cryptocurrency has fallen by almost 13.7% per month, with $ 215 billion available at time of printing.
Ethereum’s native cryptocurrency ether (ETH) is currently reaching a monthly increase of 0.30 percent. As we write, the second largest cryptocurrency in the world changes to $ 174.
In fact, ETH is the best-performing cryptocurrency among the top 10 in September, as shown in the following table (note that stable Bitcoin connections are disabled).
Bitcoin SV (BSV) is the worst-performing cryptocurrency this month with a 35 percent decline every month. BSV dropped to a six-month low of $ 75 last week and currently trades at $ 84.
Six of the top 10 reports experienced double-digit monthly declines.
Extensive losses may be related to the reluctance to the risk of a recent decline in Bitcoin.
Big drop for bitcoin
Bitcoin fell by $ 2,000 last week, confirming positive changes in technical chart trends.
The month has started well: BTC raised its offer to around $ 9,500, reaching a high of around $ 10,900 on September 6.
In the next two weeks, the upward trend has diminished, and BTC has no direction, despite an increasing view that an increase in hash rates or computational power will attract bids on cryptocurrency.
Consolidation that ended last week fell 20 percent, the biggest weekly decline in 2019.
Ether also dropped 20 percent last week, posting its biggest weekly loss in more than two months. However, cryptocurrency currently reports a small monthly income during printing.
This is due to the fact that last week’s sales have erased profits over the past two weeks. Cryptocurrency was raised from $ 178 to $ 222 in the 12 days to September 19, before dropping back to a low of $ 170 last week.
The increase in ether prices in the second and third weeks of September seems good for other alternative cryptocurrency. For example, XRP reached a high of $ 0.32 on September 18, before falling to a low of 658 days at $ 0.22 on the 24th.
The Litecoin correction scandal reached a monthly high of $ 79.45 on September 18, before falling to $ 52.38 last week, the lowest level since March 6.
Most alternative cryptocurrency is based on Ethereum Blockchain. Therefore, many observers often see the Aether Naik, especially against BTC, as a positive sign from the old.
ETH / BTC rose above 6 lows near 0.016 BTC, reaching a seven-week high of 0.02038 BTC on September 19. As he writes, the Aether exchange rate with the nominal value of Bitcoin is seen at 0.02145 BTC.
Disclosure: The author holds no cryptocurrency assets at the time of writing.