The Ethereum price to Bitcoin price chart has turned in favor of Bitcoin. In ‘regular’ circumstances that could be good for BTC but bad for ETH. However, right now, it could be good news for ALL cryptocurrencies. This is why.
It really has to do with the threat of a potential Bitcoin hard fork vs Segwit, an event that is watched globally and is expected to have major implications for BTC.
There is basically a bullish or bearish outcome of that event. In case of a bullish outcome the whole cryptocurrencies market, including Ethereum, is expected to boom again.
Given the recent relative strength in Bitcoin, it could be a signal that a bullish outcome is visible on the horizon.
When it comes to Ethereum in particular, note how we wrote earlier that the “Bear and Bull battle is still ongoing” and that we believe “this is a crucial time for Cryptocurrencies in general but overall, we are still maintaining an overall bullish outlook.”