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3 reasons why Ethereum may underperform Bitcoin in the short-term

Published 06/19/2021, 06:00 PM
Updated 06/19/2021, 07:40 PM
3 reasons why Ethereum may underperform Bitcoin in the short-term
BTC/USD
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Ether (ETH) price outperformed Bitcoin (BTC) by 173% from March 28 to May 15. The incredible bull caused the token to reach a $4,380 all-time high. However, as cryptocurrency markets initiated a sharp drop on May 12, the trend started to reverse, and since then, Ether has underperformed by 25%.

Some might say it is a technical adjustment after a strong rally. While this partially explains the move, it excludes some critical factors, including the fast advance of smart-contract network competitors and Bitcoin being adopted as an official currency for the first time.

Ether / Bitcoin price at Binance. Source: TradingView
PancakeSwap DEX daily volume vs. top 10. Source: DeBank

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