The bitcoin and Ethereum diverge as both moved opposite directions. The trend of divergence began towards the last week for the month of February as investors found it hard to invest in the differing directions between the two.
BitCoin and Ethereum Divergent Paths
The two currencies represent two ways of thinking, maximalists and altcoin believers. Though, there could be believers of both ways of thinking, the two schools of thought contradict each other. The Bitcoin was created to go against traditional exchange-controlled currencies and others believe that alt coins are just duplicates of the same concept.
Beginning Feb 24, the Bitcoin enjoyed an increase while Ethereum ETH went down on many channels. The two currencies began moving together at the end of this week. In the future, they could move in opposite directions again but for now this congruence will push other altcoins up.
Ethereum Prices Supported By Abra Integration
One of the events that powered Ethereum’s strength today was the adoption of their platform into Abra as announced by At Token 2049. Abra is a non-custodial encryption investment app. With this development, user of Abra are now able to add and remove ETH from their app without any problem. Before, users could only invest using synthetic assets.
Bitcoin Finding Stability Around $3,900 Level
Bitcoin on the other hand has been stable the past few weeks find level ground between the $3,800 and $3,900 level. Experts are seeing conflicting trends between its fundamentals and technical. On the technical side, people are seeing indicators on the average movement indicators pointing to a continued decline.
On the Fundamentals, the view is largely bearish. The bitcoin market has enjoyed an increase in adoption. In the last few weeks, more and more institutional heads have voiced support of the crypto. Steve “Woz” Wozniak, the co founder of apple has come to record saying that the recent dip in the bitcoin was not because of fundamental weakness. Elon Musk, Tesla CEO and PayPal founder has declared praise for the Bitcoin, saying it was “Brilliant.