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Bitcoin (BTC) Demonstrating Superiority Over Ethereum in Unforeseen Manner

Mar 30, 2024

Bitcoin has been exhibiting greater volatility compared to Ethereum (ETH) lately, indicating significant fluctuations in its price movements unlike Ethereum. In the past 30 days, Bitcoin's volatility has reached 60%, surpassing Ethereum since February. This suggests that Bitcoin is experiencing larger price fluctuations, potentially attracting more traders due to higher risk demand.

When analyzing Bitcoin's price trends, it remains close to the crucial level of $66,519, which has previously acted as a support level. Maintaining this price could signal a potential uptrend towards $69,350, with the possibility of further gains. Conversely, Ethereum has shown more stability with less pronounced price changes. The key price level to monitor for Ethereum is approximately $2,979.5, with the potential to rise towards $3,502.6 if it remains above this level.

The heightened volatility of Bitcoin serves as a significant indicator for investors, although it also signifies increased risk associated with buying Bitcoin due to its unpredictable price movements. Currently, Bitcoin appears to be attracting more attention than Ethereum due to its higher risk exposure, while Ethereum continues to grow steadily, resembling a dynamic similar to stocks.

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