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Ethereum Acts As “Cover” In Bitcoin Price Crash As ETH / BTC Hits 3 Year High By Cointelegraph

The native Ethereum Ether token (ETH) dived alongside other cryptocurrencies on December 4. Nonetheless, its downward movement did not prevent it from reaching a three-year high against (BTC), the world leader in crypto by market capitalization.

The exchange rate jumped just over 11.50% to 0.0835 BTC for the first time since May 2018. The price rise of the pair emerged in contrast to Ether’s 15%. falling prices against the US dollar on December 4, published in the the wake of a market-wide liquidation which saw Bitcoin plunge 21% intraday.

daily price table. Source: TradingView
Four hour ETH / BTC price chart with 200 period MA support. Source: TradingView
ETH / BTC weekly price chart showing an ascending channel pattern. Source: TradingView

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