Our post today will explore the performance of Ethereum Price compared to Bitcoin and Litecoin in 2017. We will also review how Ethereum price held compared to those cryptocurrencies during the recent price crash in early September 2017.
Ethereum price performance in 2017 : Ethereum Vs. Litecoin Vs. Bitcoin
Our review starts by an overview of ETH, BTC and LTC price performance in 2017. For investors, this is always a good way to understand if the word “Crash” that conventional media is using extensively these days is applicable or not.
Let’s take the case of Litecoin. With an impressive 2000% increase in 2017 (Between January 2017 and All-time high from August the 28th), would a 50% retrace from the all-time high be considered a Crash? In other words, even after a 50% retrace from August the 28th’s top, Litecoin is still up 1000% since January 1st.
For 2017 year to date, Litecoin is up 1000% at the lowest of September 2017 and 2000% when it was at an all time high end of August.
For 2017 year to date, Bitcoin is up by a “modest” 250% at the lowest of September 2017 and 450% when it was at an all time high.
For 2017 year to date, Ethereum has the highest increase at more than 4500% August the 28th and up 2500% at the lowest of September 2017.
With these figures in mind, it is definitely looking more like a healthy retrace rather than a “Crash”
Ethereum price performance Relative to Litecoin and Bitcoin during the last 6 Months
The chart below illustrates the performance of the above mentioned Cryptocurrencies during the last 6 months. A sharp increase and retrace for Litecoin that clearly outperformed for this period compared to Ethereum and Bitcoin.
We can also see how the uncertainty related to Bitcoin’s Segwit has weighted on Bitcoin and Benefited Litecoin. Since then, Litecoin’s price kept rising especially since the integration of the lightening Network and many of Bitcoin core’s developers working on upgrading Litecoin as a dry run for the upcoming Bitcoin upgrade. Ethereum’s price was in a sideway price action due to the pressure on the sector and pressure related to security incidents from the month of July.
Ethereum price performance Relative to Litecoin and Bitcoin during the last 3 Months
This timeframe shows an odd but short negative correlation between Ethereum and the 2 other cryptocurrencies in the beginning of September.
It is also worth noting how Ethereum’s price looks rather stable compared to Bitcoin and Litecoin during this period.
Ethereum price performance Relative to Litecoin and Bitcoin during last Month
This last timeframe covering the month of September shows how Ethereum price and the cryptocurrency in general is maturing and has less and less of the sharp price swings. The same can be seen in the 3 and 6 months charts. This is a positive thing given that Ethereum is about to enter an upgrade end of September to increase scalability and add new functions to the underlying Code. It shows that both the investors and the Ethereum community has confidence in the upcoming upgrades.
Litecoin is definitely getting some positive attention from investors. Its price shows some impressive increases but also some sharp retraces, which is to be expected at this stage. Bitcoin, on the other hand is still pressured by the Segwit upgrade and the uncertainty related to china from both a regulators perspective and miners voting for Segwit2x now or pulling off the New York agreement. We will see how that unfolds.