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Ethereum acts as a ‘hedge’ in Bitcoin price crash as ETH/BTC hits 3-year high By Cointelegraph

Ethereum’s native token Ether (ETH) plunged alongside different cryptocurrencies on Dec. 4. Still, its transfer draw back didn’t deter it from hitting a three-year high towards (BTC), the world’s main crypto by market capitalization.

The alternate charge jumped a little over 11.50% to hit 0.0835 BTC for the primary time since May 2018. The pair’s price rally appeared in distinction to Ether’s 15% price drop towards the U.S. greenback on Dec. 4, which appeared in the wake of a market-wide selloff that noticed Bitcoin plunging by as a lot as 21% intraday.

each day price chart. Source: TradingViewETH/BTC four-hour price chart that includes 200-period MA help. Source: TradingViewETH/BTC weekly price chart that includes Ascending Channel sample. Source: TradingView

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