Ethereum Has Massively Outperformed Bitcoin In 2021 – Flippening Soon?

However, as a bigger, older, and more dominant one, Bitcoin is usually the one to command Ethereum, as well.

With that said, it is not unheard of for other projects to sometimes decouple from Bitcoin and take off on their own, which is what happened with Ethereum recently. The two coins’ 3-month chart clearly shows that Bitcoin’s price has suffered a much stronger hit than Ethereum’s value, causing the community to once again start questioning whether or not we may see the flippening.

What is the Flippening?

For those who might not know, the flippening is an event in which Ethereum overtakes Bitcoin. With Bitcoin being slower, less scalable and incapable of acting as a development platform, Ethereum has all the technical advantages to actually go ahead and overtake Bitcoin.

However, this never happened because Bitcoin is the first cryptocurrency, with a massive brand, created by Satoshi Nakamoto himself, and the first truly decentralized project. It invented blockchain and brought the crypto industry to existence.

Bitcoin has the potential to become the future store of value, replacing gold, which held that position for centuries, and at this point, it is synonymous with the word “cryptocurrency”.

Still, with all of Ethereum’s own potential, including all the products and trends it has started — such as smart contracts, dApps, DeFi, NFTs, Metaverse, and more — it is understandable why hardcore Ethereum fans and developers believe that the flippening might someday happen. The question is, with Bitcoin’s poor performance and Ethereum’s strong one, is that time finally coming?

Bitcoin vs Ethereum

Over the past three months, the two coins’ charts looked relatively similar. They both started low in the second half of September 2021, with Ethereum finding its bottom at $2,800 and Bitcoin just above $40k.

After that, BTC skyrocketed throughout October, reaching a high point at $67,000 around October 20th. After that, it corrected to a major support level at $60k, where it spent around two weeks, before skyrocketing again, this time surpassing all former milestones and hitting a new ATH at $68,789 on November 10th.

During this time, Ethereum kept climbing steadily, completely avoiding the correction that brought Bitcoin down to $60k in late October. Climbing continuously over the next few weeks, it too hit an all-time high at $4,859 on November 10th. At this point, the two coins parted ways and they did not get in sync to this day.

When it comes to Bitcoin, its price started dropping rapidly following November 10th, and while several major supports attempted to stop its descent, the first one that was successful was the one at $48,000. In other words, BTC lost around $20k in around three weeks, which represents nearly one-third of its value.

During the same time period, Ethereum’s price dropped from 4,859 to $4,000, meaning that it lost less than one-fifth of its own value. That was only its initial drop that still followed Bitcoin’s behavior up to a point. While BTC kept dropping until December 4th, Ethereum’s drop stopped by November 19th. From that point on, Bitcoin price kept crashing deeper and deeper down, while Ethereum’s actually started trying to surge back up. It even managed to once again reach its new ATH, although it stopped just short of touching $4,800.

The attempt was marked by another crash, this time to $3,882, but Ethereum recovered again, reaching $4,440 on December 9th. At the time of writing (December 10th), its price once again corrected by 5%, taking it down to $4,157. However, Bitcoin did not manage to recover at all, and it still sits at $48,500 — still at the bottom that it reached on December 4th.

The difference in the two coins’ market cap has also been severely reduced. While Bitcoin’s used to be over 3 times larger than Ethereum’s, it is now less than double, with Ethereum’s market cap being at $493.2 billion and Bitcoin’s at $915.9 billion.

ETH Still Holding the Line

It is not difficult to understand why many expect that the flippening might yet happen, as Ethereum is managing to hold its ground, and even see a surge from time to time, while the best Bitcoin can currently do is try not to sink beyond some crucial supports, lose its footing, and go for a free drop.

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