Anyone notice that Bitcoin and Ethereum seem tethered at a 10% ratio to each other for the last few weeks?
As both currencies move, Ethereum seems to move with Bitcoin at 10% more or less of it's total value. This has been happening for the last few weeks. It could mean absolutely nothing at all, or perhaps does mean something. They obviously have a close relationship where one effects the other. Will this 10% tether continue? I doubt it. I really think with this bull pullback we are seeing there will be bigger gains in the near future for ETH. BTC is another story, it really all depends on whether or not it hard forks into 2 separate currencies soon.
It will be interesting to watch.
)
This fact is not to be alarmed, according to newsBtc, there is much more money flowing in BTC than there is in ETH, however they recognize that there has been a capital flight from Bitcoin to Ethereum.
I think that approximate ratio of 10% has to do with the generation of each of them since the block time in Bitcoin is 10 minutes, and when a block is generated 12.5 bitcoins are created (formerly 25 and With time will fall back to half, is part of the algorithm). Instead in Ethereum the block time is approximately 14 seconds and 5 ethers are created.
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to bad that ether folows btc
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all currencies basically follow bitcoin, i really wish they didn't
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