‘Harder than I expected’ – Lynn Alden on ETH/BTC post-election lows
Macroeconomist Lynn Alden admits she's not a big fan of Ethereum, saying she was surprised by the cryptocurrency's poor performance after the presidential election results, which she expected would be more favorable for Ethereum.
“I was a modest long-term Ethereum bear, but the post-election new low in ETHBTC is more brutal than I expected,” Alden said in a November 17 X post.
Lynn Alden said she was a ‘long-term Ethereum bear'.
Alden was surprised by the decline in the performance of Ether (ETH) Bitcoin after the victory of Donald Trump, who reiterated that “crypto securities are open”.
“ETHBTC jumps, then falls. New lows after good news,” Alden commented.
On November 15, less than two weeks after the election, the ETH/BTC ratio reached a multi-year low, the lowest since March 2021, at 0.033, according to TradingView data.
Since Nov. 5, Ether's price is up 17% at $3,107, while Bitcoin's price is up roughly 31% at $90,423, according to CoinMarketCap data.
At the time of publication, the ETH/BTC ratio is 0.034. Source: TradingView
Meanwhile, since Trump's victory, U.S. spot Ethereum exchange-traded funds (ETFs) have seen cumulative inflows of nearly $751.8 million, according to Farside data.
Industry divided by ether over Trump's victory.
In the year On November 16, Cointelegraph reported that Ether is “dying a slow death” after it recently slipped below a long-standing support level against Bitcoin, leading analysts to conclude that it is “dying a slow death.”
However, Consensus CEO Joe Lubin is more optimistic about Ethereum's long-term prospects after the election results.
Lubin recently said that Ethereum is more “ready to use” than any other protocol since Trump's presidential election victory.
Related: New Ethereum Whales Have Arrived, But Will Their ETH Stock Send Over $3.5K?
“The US has had its boot on Ethereum's neck for a long time, especially Ethereum, and that has led to a lot of FUD collection,” Lubin explained.
“It's much bigger and more mature than any other ecosystem except Bitcoin, which is mature but narrow in scope,” he added.
Marcin Kazamirchak, co-founder and chief operating officer of Redstone, recently told Cointelegraph that the Trump administration “could defeat policies that push DeFi from niche to mainstream.”
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