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Ethereum acts as a ‘hedge’ in Bitcoin price crash as ETH/BTC hits 3-year high -Breaking

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Ether, Ethereum’s native coin (ETHDec. 4 saw a plunge in ) and other cryptos. Yet, it did not suffer a downside from its three-year record against (BTC), the world’s leading crypto by market capitalization.

For the first time in May 2018, Ether’s 15% price rally caused the exchange rate to jump slightly more than 11.50%, reaching 0.0835 BTC. Contrary to Ether’s 15% price rise, the pair’s price surge was unexpected. Price drop in comparison to the U.S. DollarOn Dec. 4, the following appeared in After a massive market selloffBitcoin fell as high as 21% in that period.

Daily price chart. Source: TradingView
ETH/BTC 4-hour chart with 200-period MA support. TradingView
ETH/BTC Weekly Price Chart with Ascending Channel Pattern. TradingView