Add as a preferred source on GoogleEther Loses 7.8% Against Bitcoin From Oct. 1 to Oct. 19
Matching daily closes put the ETH/BTC rate at 0.02939 on Oct. 19. Ether fell 11.1% in dollars over the period, while Bitcoin lost 3.5%.
Ether (ETH) lost 7.8% of its value against Bitcoin (BTC) between Oct. 1 and Oct. 19, as a steeper dollar decline for Ether widened the gap between the two assets.
Using daily closes dated in UTC, Ether fell from $2,705.30 on Oct. 1 to $2,405.92 on Oct. 19, an 11.1% loss. Bitcoin declined 3.5% over the same dates, from $84,842 to $81,875.
Those matching closes put one ETH at 0.03189 BTC on Oct. 1 and 0.02939 BTC on Oct. 19. Comparing the two ratios shows how much Ether lost relative to Bitcoin, beyond the decline in its dollar price.
The ETH/BTC rate measures the value of one Ether in Bitcoin. When it falls, one ETH is worth fewer BTC. Both assets lost value in dollars during this period, but Ether’s larger decline pushed the ratio lower.
The pair had fallen below 0.03 BTC earlier in October. The Oct. 19 closing-price ratio remained below that level.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.