tips for traders
tips for traders

Tips for traders, 19 January 2021

In the past week, Ethereum has outperformed Bitcoin. This is probably due to the fact that people perceive Bitcoin to be overvalued at the moment, which has caused pressure on Bitcoin and pushed it lower to $30,000 before it climbed back to $36,000.

tips for traders

The price of Ethereum itself hasn’t broken its all-time high from 2018, which was around $1,500. The current price is very close to this, but if we take a look at ETHBTC, we see that Ethereum has lagged behind Bitcoin at some points.

If there’s a possibility that the price is about to form some kind of ratio to Bitcoin, we can see Ethereum going up substantially maintain this. The all-time high’s ratio is 0.12. If we take half this, 0.06, and maintain the price of Bitcoin at $36,000, there is the possibly for Ethereum to reach $2,160. This of course depends on whether such a ratio is confirmed and whether sentiment holds.

In addition, the EIP-1559, which will substantially reduce transactional costs within Ethereum, could attract more money to Ethereum as people might be more keen to use the ecosystem again.

OPEN A DEMO ACCOUNT

Disclaimer: the publication of tips for traders is a marketing communication and does not constitute investment advice or research. Its content represents the general views of our experts and does not consider individual readers’ personal circumstances, investment experience or current financial situation. Tips for traders are not prepared in accordance with legal requirements promoting independent investment research and Exness is not subject to any prohibition on dealing before the release of tips for traders. Readers should consider the possibility that they might incur losses. Exness is not liable for any losses incurred due to the use of tips for traders.