Ethereum-Bitcoin Price Ratio 11-Month Low, Will ETH Reach $2,000?
Bitcoin Ethereum Ethereum-Bitcoin Price Ratio 11-Month Low, Will ETH Reach $2,000? Balita ng Ethereum ng Bitcoin Pangunahing puntos: The latest surge in Bitcoin has been fueled by the excitement around BlackRocks Bitcoin spot ETF proposal, which has sent the Ethereum/Bitcoin price ratio down to an eleven-month low. The price ratio of Ethereum to Bitcoin has dropped to 0.0615. This corresponds to a 1% growth in Ethereum vs a 10% increase in Bitcoin in June. ETH/BTC price ratio chart. Bitcoin has lately risen on market anticipation that BlackRock, the worlds biggest asset management, would have its proposal for a Bitcoin spot ETF approved by the US Securities and Exchange Commission (SEC). The announcement that well-known financial organizations Invesco and Wisdom Tree would seek the SEC for approval of similar products backed by Bitcoin. The fact that Bitcoin was not included among the 19 cryptocurrencies that were designated as securities, which the SEC recently launched a case against Binance and Coinbase, is also cited as an advantage for Bitcoin. The Ethereum price has been stable in recent months, hovering between the $1,000 and $2,000 psychological thresholds. ETH had approximately four equal highs and four higher lows throughout this period. ETHs price has bounced back from its nearest support of $1650, although it