There are still more Bitcoin in circulation than Ethereum. But that could change.
(Photo: Reuters)
Frankfurt Bitcoin’s price appeared to be stabilizing near $30,000 midday Thursday after briefly dipping below $20,000 in March. Ethereum, the second largest cryptocurrency, which also enables programming such as automated payments, showed similar price movements and was just under $1900 per ether on Thursday.
The price movements of the interest-free cryptocurrencies essentially reflect the interest rate expectations on the capital market: If investors expect higher interest rates, for example because the central banks have to fight inflation more intensively, the price falls. If the fear of interest rates subsides, there is more room to move up again.
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