View source for Tutorials:Comparing BTC and ETH Price History

= Quest: Comparing BTC and ETH Price History =

TradingView has many useful functions for analyzing markets. In this quest, we will compare Bitcoin (BTC) and Ethereum (ETH) price history.  You have to Sign In to TradingView to be able to use the compare tool. You can sign in with your Google account.

 As a Plus! Learning how to compare the performance of two assets is a very useful tool :)

'''Observation:'''  

Ethereum's price often follows the same pattern as Bitcoin's price. When Bitcoin's price rises, it causes the price of other cryptocurrencies to rise as well.  
This phenomenon is known as '''alt-season''' (alt-coins refer to all cryptocurrencies other than Bitcoin).  

== Sign in to TradingView ==

Visit [https://www.tradingview.com/ TradingView] website and click on the profile icon marked with the orange arrow in the image below:


[[File:TV sign in 2.jpg|800px]]

You can sign in with Google. You need to sign in to use the "compare" features.

== Add BTC and ETH to your Watchlist: ==

# From the '''Markets''' tab Select: '''Crypto'''. See the orange arrow in the picture above. 
# From Crypto choose: '''Large Cap'''.  
# Add BTC and ETH to your watchlist:  

  * Right-click on BTC and select:  
    '''Add CRYPTO:BTCUSD to Watchlist > Select Watchlist''' or create a new one.  
  * Right-click on ETH and select:  
    '''Add CRYPTO:ETHUSD to Watchlist > Select Watchlist''' or create a new one.  

[[File:TradingViewWatchlist2.jpg|800px]]


== Select Bitcoin from your Watchlist ==
 


# On the right-hand side column, locate your Watchlist.  
# Select BTC from your watchlist to display BTC price chart.
# Select '''Full Chart'''.  



[[File:TradingViewClickonFullChart2.jpg|800px]]

== Select Full Time Range and Adjust the chart scale ==

Select '''ALL''' for the time range, and then hover (click or slam) over the hexagonal icon in the bottom right of the chart to display the '''A''' and '''L''' buttons to select Automatic fit to scale, and Logarithmic scale.

Click on the '''A''' button: Auto: Fit data to screen.

[[File:TV adjust scale.jpg|800px]]

== Compare Bitcoin to Ethereum Price History ==

# Click on the '''Compare''' button. (A circular icon with a plus sign In the upper left of the chart)  
# Select ETHUSD:  

[[File:TradingViewclickcompareButton2.jpg|800px ]]

 * Notice that various markets are available for price history. Choose the first one.  

[[File:TradingViewCompareETHUSD.png|800px ]]

== Adjust Settings==

# Click on the '''Hexagonal Icon''' at the bottom right and select '''Regular''' (not percent).  
# Switch the chart to '''Log Scale''' to better compare price behaviors.

The Hexagonal Icon is located at the bottom of the Price axis, in the right hand side of the chart.
Hovering above the icon the "A" and "L" options appear to select: Auto (Fits data to screen) and Logarithmic scale.

[[File:TradingViewBTCETH comparison regular log scale.png|800px]]

== Task ==

# Locate the camera icon in the top right corner of the chart. Marked by the orange arrown in the image below. 
# Click on download image.
# To complete this task you need to type in the two words that appear when you hover the mouse over the camera icon.
# Upload your chart comparing Bitcoin and Ethereum price history.

[[File:TV snapshot.jpg|800px]]

== '''Exercise''' ==

* Notice how the regular chart makes it difficult to see similarities between Bitcoin and Ethereum's price behavior.  
* Changing to a logarithmic scale makes it easier to observe that Ethereum's price chart closely follows Bitcoin's.  

'''Key Insights:'''  

* Most other major cryptocurrencies follow Bitcoin's behavior.  
* Bitcoin's price action exhibits a periodic pattern:

* Every 4 years, there is a bull market leading to all-time highs.  
* A bear market follows, which typically last more than one year.  

 '''Investors who understand this periodic behavior can make significant profits with a long-term investment strategy.'''