Cryptocurrency analyst Benjamin Cowen is forecasting the most likely trajectory of Ethereum (ETH) against Bitcoin (BTC) over the impending weeks and months.
Cowen tells his 866,700 followers on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is “most likely” to bottom out sooner than the waste of this yr.
Primarily based totally on Cowen, the ETH/BTC pair is rarely any longer going to descend by over 20% from the new level.
“Whereas you had been bullish on ETH/BTC at 0.08, but bearish on it at 0.038, then the market has entirely tricked you.
Yes, ETH/BTC might well presumably plug lower, however the time to agree with the replace used to be 2 years ago, no longer today time.
ETH/BTC will most likely bottom out *THIS QUARTER* (Q4 2024) between 0.03-0.04 (which is the new vary).
If 0.038 is rarely any longer the bottom, then 0.036 is most likely the following live. Worst-case scenario is 0.03 but I highly doubt it goes that low.”
ETH is trading at 0.03891 BTC ($2,617) at time of writing.
Turning to the Ethereum/US dollar pair, the broadly followed analyst says that ETH/USD might well presumably turn bullish next yr.
“ETH/USD is in general archaic until waste-of-yr just correct address 2016 and 2019 (moreover years the place ETH/BTC broke down), but I judge this will fetch some renewed energy in 2025.”
Cowen additional says that Bitcoin dominance, the ratio of Bitcoin’s market cap relative to the different crypto sources, is most likely to high out at approximately 60% sooner than the waste of the yr and pattern downwards in 2025.
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