Bitcoin maximalists are having a field day as the ETH/BTC ratio plunges below a key level
Earlier today, the ETH/BTC ratio plunged below the 0.04 BTC level for the first time in three and a half years. Ether, Bitcoin's archrival, has long been viewed as the main contender to replace the original cryptocurrency and become the biggest cryptocurrency by market value. 'Rich Dad Poor Dad' Author: Bitcoin Is About to 'Explode'
Such a hypothetical scenario was on the cusp of becoming a reality during the peak of the initial coin offering craze that happened in mid-2017. In June 2017, Ether came extremely close to overtaking Bitcoin and becoming the most valuable cryptocurrency by market capitalization.Ether came close to Bitcoin's throne in early 2018 and then experienced yet another revival in 2021 due to the enthusiasm surrounding decentralized finance and non-fungible tokens .
Earlier this year, Ether experienced yet another setback, with spot ETFs flopping due to substantial outflows. reported by U.Today , Bitcoin maximalist Tuur Demeester recently predicted that the price of Ether could crash all the way to 0.03 BTC. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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