Chart of the Day - Thursday, April 22nd, 2021

Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). This is easily one of the most talked-about charts this week. It's a chart of Ethereum vs. Bitcoin ($ETHUSD vs. $BTCUSD). We first started seeing signs of a potential Crypto bull market about one year ago. Since then, Bitcoin has literally quintupled. For the first time since the rally began, we're starting to see Bitcoin lose some momentum. On the other hand, the second-largest Cryptocurrency, Ethereum, continues to show strength. On an absolute basis, Ethereum is trading at an all-time high today, which is impressive considering it corrected more than 20% just this past weekend. On a relative basis, Ian points out that Ethereum is breaking out of a 2.5-year base vs. Bitcoin right now. In other words, don't be surprised to see Ethereum steal the spotlight from Bitcoin in the coming weeks.