Bitcoin and Ethereum review

The crypto space has somewhat woken up perhaps driven by stock market resurgence over the last 2 trading days. Perhaps the markets are thinking this is enough (or maybe too much) reaction to inflation and rate increase fears. I don’t know. Today I wanted to look at price action of the some of the crypto assets. Starting with Bitcoin.

Looking at the simple BTC 1-month chart the price trend is still lower. However, there is some slight upward movement over the last 2 weeks. Bitcoin is up +10% from Jan 21, 2022, which is 10 trading days in the crypto world.

This may seem like good news. But if we zoom out to a 3-month chart, the picture tells a bad story.

We can see the declining trendline clearly and Bitcoin has been down -36% in that period. So, definitely not yet a bullish trend overall. We will have to wait and watch.

The Ethereum story is similar. It is up +15% since Jan 21, 2022. But down -35% over the last 3 months.

Another interesting aspect I like to see is the chart of BTC against ETH. This removes the impact of the USD and measures the BTC performance against ETH and vice versa.

We can see that Bitcoin had been rising against Ethereum. However, in the last week or so Ethereum has surged against Bitcoin.

I see this only to check if there is really anything that gives me proof that one is doing better than the other. The answer to that question is nuanced.

Ethereum literally went up 2.5 times against between March and May of 2021. However, since then it has been flat.