At least for the last few days it has been.
Looking at the long term chart it has been a good year for ethereum on the ratio, but it seems to be hitting up against resistance here in the 0.03 to 0.04 range.
Of my investments in Ethereum and Bitcoin I am at a ratio of 65-35. If we fall below 0.032 I will start to re-balance that to 50-50. That is the lowest I will ever go, I am too much of a ETH fanboy.
Of course a fall on the ratio doesn't have to be bad news, BTC and ETH can still both rise together. And I'll sure any given week one will outperform the other.
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