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Ethereum price rises by 50% against Bitcoin in one month — but there's a catch
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Ether (ETH), Ethereum's native toke, has been continuing its uptrend against Bitcoin (BTC) as euphoria around its upcoming network upgrade, "the Merge," grows.On the daily chart, ETH/BTC surged to an intraday high of 0.075 on Aug.
6, following a 1.5% upside move. Meanwhile, the pair's gains came as a part of a broader rebound trend that started a month ago at 0.049, amounting to approximately 50% gains.The ETH/BTC recovery in part has surfaced due to the Merge, which will have Ethereum switch from proof-of-work (PoW) mining to proof-of-stake (PoS).From a technical perspective, Ether stares at potential interim losses as ETH/BTC paints a convincing rising wedge.
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