UTC Updated Dec 3, at p. With the long-anticipated arrival of phase 0 of the Ethereum 2.
But analysts invest portfolio ethereum ether should be judged on its own merits and not as a bitcoin replacement. It can be expected investors are looking for a new opportunity in crypto at affordable prices.
Data from CoinDesk shows the day correlation coefficient between the prices of the top two cryptocurrencies, while still strong, has gradually weakened a bit since the summer from as high as 0. The close historical correlation between bitcoin and other cryptocurrencies may be due to how tiny the digital-asset ecosystem is relative to the global economy.
With almost every crypto asset built on different fundamentals, non-bitcoin cryptocurrencies may be trending with bitcoin prices simply because the nascent market is still so small and insular.
Prices may move in tandem but the degree to which that happens is another matter. At the time, bitcoin was struggling to break a similar two-year record.
What Ethereum 2. Read more about Ethereum Bitcoin Ethereum 2.
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