Discuss
No. They are in 2 different spaces as are Monero, RSK etc although RSK and Etherum may compete.
Bitcoin is by no means perfect but it is bitcoin. Etherum is a fuel if you like to do other things and is not really competing.
Interestingly in the latest crash both the bitcoin and etherum price got hit roughly to the same extent percentage wise if they were competing in theory one would take a much bigger hit than the other? Dunno though as the price of bitcoin seems to have its own funny quirks?.
I think most people holding etherum are also holding bitcoin but not as a protection from one rising and the other falling but rather as the want to share in the possibilities of both.
I don’t think bitcoin and ETH are direct competitors but if they were I suppose that things will move asymmetrically, if bitcoin went up then that will mean ETH will go down and if ETH went up then bitcoin will go down since that was not the case in the past correction I think they are not competitors and while in the past a movement like the one i have described has passed I think we cannot draw a connection like that since most altcoins, and not only ETH, lose ground when bitcoin goes up in the price.
