Cryptocurrency analyst Benjamin Cowen is forecasting the seemingly trajectory of Ethereum (ETH) towards Bitcoin (BTC) over the approaching weeks and months.
Cowen tells his 866,700 followers on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is “seemingly” to backside out earlier than the tip of this 12 months.
In response to Cowen, the ETH/BTC pair is unlikely to fall by over 20% from the present degree.
“Should you had been bullish on ETH/BTC at 0.08, however bearish on it at 0.038, then the market has fully tricked you.
Sure, ETH/BTC might go decrease, however the time to make the commerce was 2 years in the past, not as we speak.
ETH/BTC will seemingly backside out *THIS QUARTER* (This fall 2024) between 0.03-0.04 (which is the present vary).
If 0.038 just isn’t the underside, then 0.036 is probably going the subsequent cease. Worst-case situation is 0.03 however I extremely doubt it goes that low.”
ETH is buying and selling at 0.03891 BTC ($2,617) at time of writing.
Turning to the Ethereum/US greenback pair, the extensively adopted analyst says that ETH/USD might flip bullish subsequent 12 months.
“ETH/USD will seemingly be weak till end-of-year identical to 2016 and 2019 (additionally years the place ETH/BTC broke down), however I feel it’s going to discover some renewed power in 2025.”
Cowen additional says that Bitcoin dominance, the ratio of Bitcoin’s market cap relative to the opposite crypto belongings, is more likely to high out at roughly 60% earlier than the tip of the 12 months and pattern downwards in 2025.
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Examine Value Motion
Observe us on X, Fb and Telegram
Surf The Day by day Hodl Combine
 
Disclaimer: Opinions expressed at The Day by day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses it’s possible you’ll incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney