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Ethereum is catching up - Ether is setting out on a "parabolic" run on Bitcoin



Ethereum ( ETH ) could soon show a "parabolic" upswing compared to its big brother Bitcoin and, in direct comparison, even jump into new record heights.


Ether soon jumping to a new record?

As the data from Cointelegraph Markets Pro and TradingView show, ETH / BTC is currently almost at a three-year high, with an even clear upward leap on the horizon.


The direct comparison between Ether and Bitcoin ( BTC ) is one of the success stories in the current weak phase of the market.


A narrative that the crypto trader Galaxy gratefully took up on December 3 , when he reiterated his optimistic forecast for the second largest crypto currency by saying that ETH / BTC would with another jump the already strong performance of the past weeks and months will top again.


"I've been observing and analyzing the price development of ETH / BTC for years with a long-term view, and now the moment has finally come," he writes exuberantly on Twitter. He adds:


“ETH is now preparing for a parabolic jump. Wait and see how great it will be soon. "

This week, ETH / BTC climbed to a price of 0.085 BTC for the first time since May . Above this mark, only the particularly successful year 2018 stands before the rise into new record spheres. At that time, market values ​​of up to 0.15 BTC were even reached on some crypto exchanges.


In comparison with the US dollar, Ethereum is currently showing similar strength. After several records were broken at the beginning of November, the second-placed cryptocurrency was roughly around 5,000 US dollars at the time of going to press.


“In theory, this should be the crux of the matter, at which sustained strength is underpinned and continued with a solid structure,” says crypto expert Pentoshi in view of this balance sheet .


Although not all indicators give the green light for the jump above the US $ 5,000 mark, ETH / USD has recently strengthened at US $ 4,550.


Long-term investors are getting restless

For Bitcoin, meanwhile, the picture doesn't look quite so rosy.


After several weeks of poor performance, even the most confident experts are slowly becoming pessimistic, although most metrics continue to give hope in the long term .


Indeed , as Cointelegraph reported , the on-chain data gives little cause for concern, although sentiment is slowly turning , especially among long-term investors.


The highly respected sentiment barometer, the Crypto Fear & Greed Index, is currently showing “fear” again, as it only stands at 31 out of a possible 100 points. 

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