Tips for traders, 27 April 2021
The recent selloffs of bitcoin have weighed on Ether somewhat, but there hasn’t been the same panic as for bitcoin and elsewhere in the cryptoverse. Tesla, Inc that stated that they sold their 10% stake worth around 4,000 BTC. Elon claimed that this shows the world that Bitcoin is as liquid as cash. According to other information, Tesla did this to raise money for further development of the company worth around $272 million.
ETH meanwhile has not been under much pressure. Demand for Ether has increased significantly now that it has been upgraded as discussed last week.
From a technical point of view, we can see that ETHBTC is currently showing a very strong upward trend as Ether has outperformed bitcoin recently. ETH could move up further to around 0.06. In the meantime, if there’s no clear breach of 0.04725, ETHBTC might move sideways in the near future.