Bitcoin’s Turbulence Helps Kindle Rally in Largest Rival Ether
Bitcoin’s recent wobbles have turned the cryptocurrency spotlight onto other digital coins including Ether, whose gain this year has outstripped the performance of its bigger rival.The world’s largest cryptocurrency hovered around $36,000 on Tuesday for a fifth day after major gyrations earlier in January. The comparative calm of late may encourage crypto enthusiasts to chase the momentum in coins like Ether, which is up about 80% in 2021 compared with Bitcoin’s 26% advance.“Bitcoin has been in a range for the past few weeks, which gives time for capital to rotate” into other digital assets, said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.Questions abound about the drivers of the parabolic surge in Bitcoin to almost $42,000 on Jan. 8 before a sharp pu…