What does the ETH/BTC exchange rate mean? What does it represent?
The ETH/BTC exchange rate is the exchange rate of Ethereum (ETH) against Bitcoin (BTC). It is an indicator of the relative value between Ethereum and Bitcoin and has important significance.
1. Cryptocurrency Market
The ETH/BTC exchange rate represents the relative value of the two major digital currencies in the cryptocurrency market. Bitcoin is the earliest cryptocurrency released, widely recognized and accepted, and has a high market share. Ethereum is a decentralized platform that allows the development of smart contracts and decentralized applications. The changes in the ETH/BTC exchange rate can show the overall trend of the cryptocurrency market and investors' confidence in different cryptocurrencies.
2. Investor Decision
The ETH/BTC exchange rate is of great significance to investors in decision-making. If the ETH/BTC exchange rate rises, it means that the value of Ethereum is rising relative to Bitcoin. This may attract more investors to put their money into Ethereum and expect the price of Ethereum to rise. On the contrary, if the ETH/BTC exchange rate falls, it may cause investors to transfer their funds to other cryptocurrencies or traditional assets.
It is particularly important to note that many tokens and altcoins are compared with ETH, so every decline in EHT/BTC will inevitably lead to a collective collapse of altcoins, but if the exchange rate rises, it will inevitably be a bull market for altcoins. Therefore, for those who do altcoins in the medium and long term, you must pay close attention to the ETH/BTC chart to see if it is within the rising channel.
As shown in the figure, there is still room for decline in the daily cycle, so the conditions for the arrival of a bull market in altcoins are not met. As short-term investors, we mainly use guerrilla tactics. We should run away when there is almost enough profit. It is difficult to see a currency with a profit of dozens or hundreds of times. It will only appear in a bull market. Give up the fantasy.
As for the #REEF monitored by the machine last night, it also increased by 17%, but I didnât see it because my phone was set to silent. I have been a bit nervous lately. I canât stand the sound at night. I donât know if it was caused by the alarm.
Judging from the overall sentiment today, it is hard to find a good currency. I will check the machine monitoring. If there is no good currency, I may choose to lie flat.
