Ethereum has reached a three-year low in pairs with Bitcoin. Flipping is cancelled.
Ethereum (ETH) reached its lowest value in a three-year period against Bitcoin (BTC) at the level of 0.04872 BTC. This low ETH/BTC exchange rate calls into question the situation that Ethereum supporters call flipping (the superiority of the altcoin over Bitcoin). In the chart of altcoin No. 1 below you can see how ETH breaks through the previous minimum of the taken time interval in January 2024. This is part of a visible downward trend that began in September 2022 after the crash in the crypto market. Then ETH fell sharply against Bitcoin, reaching its previous low at 0.04908 BTC.
What are the prospects for flipping? This mid-term price movement has raised concerns about Ethereum's ability to surpass Bitcoin's market capitalization. Some cryptocurrency traders perceive the establishment of a new three-year minimum as a marker that this will never happen, some optimists view this ment as an opportunity for purchase. If we look at the monthly candles throughout the entire history of the ETH/BTC pair, then the conclusion is that every time ETH crossed the price level of 0.04880 in relation to Bitcoin, it rose up. The current level provided significant support for ETH/BTC, and also provoked a price increase after reaching this mark
