Ethereum's Value Plummets Against Bitcoin to Lowest Level Since 2020

On March 12, 2024, Ethereum's value against Bitcoin hit its lowest level since mid-2020, reaching an ETH/BTC ratio of 0.02281, a near five-year low according to TradingView data. This has prompted crypto trader Alex Kruger to suggest shifting investments into higher-performing altcoins, anticipating greater gains if the market rises. While Bitcoin traded around $83,667, remaining below $100,000 since February 5, Ether hovered at $1,907, under $2,000 since March 10. Despite the Crypto Fear & Greed Index rising to 45, indicating increased market optimism, Bitcoin's dominance stands at 62.15%. Some analysts, like Hansolar, predict a continued Bitcoin season, noting that altcoin season was brief last year. CoinMarketCap's Altcoin Season Index scores 13 out of 100, further suggesting Bitcoin's current dominance.