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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 is Ethereum’s native currency (ETHOn Dec. 4, ) fell along with other cryptocurrency. However, 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. The U.S. dollar is falling in value and the price of oil has fallenDecember 4, appeared in The Market-wide selling followsBitcoin fell as high as 21% in that period.

Chart of daily prices Source: TradingView
ETH/BTC price chart for four hours with 200-period MA Support TradingView
ETH/BTC weekly chart with Ascending Channel pattern. TradingView