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Bitcoin has had more ups and downs recently than Ethereum (ETH), but not just in price. It actually moves up and down more. This means that Bitcoin's volatility was significantly higher than Ethereum's, which is not common.
In the last 30 days, Bitcoin volatility has increased to 60%. That's more than Ethereum has since February. It looks like Bitcoin is going through major price changes and that could actually have a positive impact as risk demand remains high. This could mean more traders are paying attention to Bitcoin than Ethereum.
ETH/USDT chart from TradingView
If we look at how the price of Bitcoin has changed, we see that it has moved closer to the important price of $66,519. This is a price that Bitcoin has so far failed to fall from. If Bitcoin holds above this price, it may prepare to target a rise towards $69,350. If Bitcoin rises higher, it could rise sharply again.
Ethereum is different. It was more stable and didn't have as big price changes as Bitcoin. The Ethereum price to watch is around $2,979.5. If the price of Ethereum does not fall below this level, it could rise again, perhaps even towards $3,502.6. However, since Ethereum hasn't been as up and down as Bitcoin, it doesn't seem as risky or exciting to traders right now.
Bitcoin’s high volatility could be a crucial signal for investors. But this also means that buying Bitcoin could be riskier as the price is less predictable and could result in significant losses for investors.
At the moment, it looks like Bitcoin is getting more attention than Ethereum because it carries far more risk. Ethereum continues to grow slowly and shows similar dynamics to stocks.
About the author
Arman Shirinyan
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with in-depth analysis of crypto projects, and technical analysis of cryptocurrency trading pairs.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
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