BlocksInform
The cryptocurrency market has begun 2023 with positive dynamics. As a result, all advanced cryptocurrencies won against the U.S. dollar, and the so-called 2022 "crypto winter" disappeared.
Bitcoin is definitely the lead. It bounced back sharply from the lows of 2022 after losing around -65% of its value. The direct relationship between Bitcoin and the rest of the cryptocurrency market is well known.
Something exciting has happened since early 2022. In particular, the correlation has become weaker. Of course, other cryptocurrencies track when Bitcoin enters an up or down market.
ETHUSD chart by TradingView
Ethereum lags behind
The chart above shows the four leading cryptocurrencies and how they performed against the US dollar – Bitcoin, Doge, Ripple, and Ethereum. Ethusd chart by traditional viewethereum lagbehindthe chart above shows the four leading cryptocurrencies and how they did against the us dollar – bitcoin, doge, ripple, and ethereum.
The correlation is clear. There is an obvious correlation, Ethereum is running late.
In 2022, ethereum dropped more. It lost more than -70% of its value prior to the recent rebound.
As he rallied in 2023, following the lead of Bitcoin, he lags behind. Specifically, while Bitcoin, Doge and Ripple were moving more or less synchronized, Ethereum bubbles were lagging behind. The recent rally has reduced crypto-currency losses against the US dollar.
While he rallied in 2023, following the advance of Bitcoin, he is late.
Specifically, while Bitcoin, Doge and Ripple were moving more or less in sync, Ethereum bulls lagged. For example, the BTC/USD is currently down -49.86% compared to January 2022.
