ETH 'Discount Promotion' Compared to Bitcoin! The Truth Behind the Over 3% Drop in 3 Days
Major Event in the Crypto World: The exchange rate of ETH to Bitcoin suddenly plummeted by 3.31%, and now 1 ETH can only be exchanged for 0.0221 Bitcoin. This is like a supermarket promotion where the cash that could originally buy 10 bottles of cola can now buy only 9.5 bottles. In simple terms, the market favors Bitcoin, the 'Big Brother,' and funds are flowing in that direction.
Why is this happening? Three key reasons explained:
Bitcoin Becomes a 'Safe Haven'
Recently, the global economy has started to wobble again, similar to how people hide indoors during a typhoon. Investors are nervously stuffing their funds into Bitcoin, the 'digital safe box.' After all, Bitcoin has been around for 14 years, and people believe it is more resilient than Ethereum, the 'tech nerd.'
Ethereum in a 'Transition Phase'
In the past six months, Ethereum has been relatively quiet, like a smartphone manufacturer not releasing new products, leading to a decline in fan enthusiasm. The anticipated upgrade has been delayed, and there have been no new developments in DeFi or NFTs, while news about Bitcoin ETFs is everywhere, attracting hot money away.
Retail Investors Following the Herd
Watching the exchange rate slide down, many traders can’t sit still. It’s like eggs on sale at a supermarket—when someone starts buying, the line behind grows longer. Many are selling off to buy Bitcoin, leading to further declines in price, creating a vicious cycle. Now everyone is waiting, hoping Ethereum will pull off a big move to turn things around.
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