Bitcoin and Ethereum. Bitcoin is the cryptocurrency king. Bitcoin holds the number one position in cryptocurrencies and Ethereum holds the second position. I read somewhere before that when the price of Bitcoin goes up, so does up the price of Ethereum too. And while checking the market today I noticed that, really the price of Ethereum has risen along with the price of Bitcoin, Bitcoin price today is 52k and Ethereum price today is $2825.65, and Bitcoin has gained 15.9% in the last 7 days and Ethereum has gained 16.6% in the last 7 days. So does the price of Ethereum really go up when the price of Bitcoin goes up? And does Bitcoin's bull market actually coincide with Ethereum's bull market? What is your opinion on this matter? And correct me if I'm wrong.
Ethereum price movements often follow Bitcoin. And this is one of the coins that has consistently been close to Bitcoin's movements for a long time. So there is no doubt that Ethereum is actually that trusted. Yes, currently they have many competitors, in fact, Ethereum's market cap is still nothing that can be beat in the altcoins row. However, if comparing Bitcoin and Ethereum, of course BTC will always dominate and be number 1.
However, if we look at the price increase at any time, especially within a day, sometimes the amount of increase in ETH in a day is higher compared to the percentage of Bitcoin. So ETH is indeed quite strong in certain period