Ether outshines Bitcoin in 2021 as volatility takes a bite

Bitcoin may be the most popular cryptocurrency but the token of the Ethereum network is gaining ground. Today’s Chart of the Day shows Bitcoin against the dollar on a logarithmic scale over the past five years, measuring the acceleration of the cryptocurrency’s move while accounting for its volatility. “That’s another source of selling pressure that could cascade into additional weakness in January.” At this point, Bitcoin’s price action appears to be driven more by technicals. Measuring Ether’s outperformance over Bitcoin while taking volatility into account, shows its value has risen to levels last seen in the summer of 2018. “It’s not really that clear to the world at large, to the mainstream, that what’s really happening with Bitcoin, with Ethereum, with this whole bucket of technologies…is really a revolution in software development,” Coinlist CEO Graham Jenkin said in a Bloomberg TV interview.