Remarkable Detail From Bitcoin (BTC) and Ethereum (ETH) While The Market Is Falling!

The decline that started in the evening in Bitcoin made the whole market painted in red.

While the $ 19,800 level, which remains important as it represents the peak of 2017, was followed closely, today Bitcoin saw below $ 19,000.

BTC price dropped below $19,000, depreciating 3.20% in 24 hours, while ETH price lost 0.64% in 24 hours.

If we look at the performances of the two biggest cryptocurrencies in 2022; On the Bitcoin side, the bottom level is $ 17,622, while on Ethereum, it is $ 881.

Bitcoin vs Ethereum

If we look at the chart for 2022, the Bitcoin price is +8% above the 2022 low, while the Ethereum price is +80% above the 2022 low.

Usually “Bitcoin or Ethereum?” The question is known to be common among investors.

When the performances of 2022 are examined, it is true that ETH has experienced a greater decline than the peak price, but it is remarkable that it then recovered by 70 percent from the bottom level.

In this context, it is seen that Ethereum, which is behind the news of the Merge update, which is expected to be on September 14, throughout the year, shows a better price performance.

When we look at the US Stock Exchanges, S&P 500, Nasdaq and Dow Jones, it does not escape the attention that they saw the bottom of 2022 almost at the same time as Bitcoin, and now they are trading 5 to 8 percent above this level.

This reveals the correlation between Bitcoin and the US stock markets.