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Reading: Hard Times for the Altcoin King? 20 Percent Drop Prediction in ETH/BTC!
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EdaFace Newsfeed > Latest News > Altcoin News > Hard Times for the Altcoin King? 20 Percent Drop Prediction in ETH/BTC!
Altcoin News

Hard Times for the Altcoin King? 20 Percent Drop Prediction in ETH/BTC!

vitalclick
Last updated: October 18, 2024 1:55 pm
5 months ago
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Contents
Is ETH/BTC Pair on the Brink of Fall?Expectations for Bitcoin DominanceWarnings for Investors

Cryptocurrency analyst Benjamin Cowen, Ethereum $2,631(ETH) Bitcoin $67,945He evaluated its performance against (BTC) in the coming periods. In his statement to his 866,700 followers on social media platform

Is ETH/BTC Pair on the Brink of Fall?

Cowen sees the odds of ETH/BTC falling more than 20% from its current level as low. The analyst also emphasized how market expectations shaped this pair.

Cowen, who also discussed the performance of Ethereum against the US dollar, predicts that the ETH/USD pair may give upward signals next year. However, while ETH/BTC is declining, there is a possibility that ETH/USD will remain weak. This trend was seen similarly in 2016 and 2019. According to Cowen, it may take until 2025 for Ethereum to truly gain strength against the US dollar.

Expectations for Bitcoin Dominance

Another prediction of the analyst is about Bitcoin’s market dominance. Cowen thinks Bitcoin dominance could reach 60% by the end of the year. However, he also states that this rise may reverse in 2025.

Cowen says that the ETH/BTC pair may bottom in the 0.03-0.04 range this quarter. At the time of writing, Ethereum is trading at 0.03891 BTC (about $2,617). However, the analyst adds that there is currently no suitable trading opportunity in the ETH/BTC pair.

Warnings for Investors

Emphasizing that the dynamics in the cryptocurrency market are uncertain, Cowen warns investors to be careful. He states that investment strategies should be adjusted accordingly, especially if market fluctuations continue.

The relationship between Ethereum and Bitcoin remains important for investors who want to understand market movements. These analyzes by Cowen serve as a guide for those who want to take a position in the cryptocurrency market. Analyzes based on expert opinions can contribute to investors determining their future strategies.

As a result, a bottom is expected in the ETH/BTC pair by the end of the year. ETH/USD may gain strength in 2025. Additionally, Bitcoin dominance is likely to decline in 2025.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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