6 months ago
A crypto expert has predicted erstwhile Ethereum, the world’s second-largest cryptocurrency, volition bottommost against Bitcoin, however, nether definite conditions.
Analyst Predicts ETH/BTC Bottom Timeline
In a caller X (formerly Twitter) post, crypto expert and laminitis of ITC Crypto, Benjamin Cowen, shared his forecast regarding the Ethereum to Bitcoin terms ratio, projecting the timeline for erstwhile ETH/BTC would deed its lowest worth successful the existent marketplace cycle.
Sharing insights connected the marketplace conditions, Cowen noted striking similarities betwixt the contiguous market’s dynamics and the 1 seen successful 2019. He disclosed that ETH/BTC’s caller bounce mirrored the market’s behaviour successful 2019, 2 months earlier the Federal Reserve (FED) chopped down rates.
Cowen predicts that the ETH/BTC ratio volition scope the lowest constituent successful its terms cycle erstwhile the FED makes a important alteration successful its monetary policy, often referred to arsenic a “pivot.” The crypto adept expects this pivot to hap successful a fewer months, yet suggesting that Ethereum would bottommost against Bitcoin successful the coming months.
His investigation is besides based connected the presumption that macroeconomic conditions and the FED’s monetary policies tin significantly interaction the cryptocurrency market. Sharing a terms illustration of Ethereum against Bitcoin successful different post, Cowen projected that the ETH/BTC ratio volition caput towards a scope of 0.03 and 0.04 by summer.
Commenting connected his prediction of ETH/BTC’s bottom, a crypto assemblage subordinate expressed skepticism astir the FED’s likelihood of cutting down rates while ostentation was inactive high. Cowen responded that the lack of a complaint chopped further reinforced his beliefs that the ETH/BTC ratio has not yet reached its lowest point. He suggests that unless inflationary pressures are addressed, the ETH/BTC ratio whitethorn continue connected its downward trend.
Crypto Expert Calls Ethereum A Higher Risk Asset
In different post, Cowen referred to Ethereum arsenic a higher-risk plus and Bitcoin arsenic a lower-risk asset. The crypto analyst’s forecast connected Ethereum against Bitcoin is underpinned by his mentation of superior migration dynamics, suggesting that higher-risk assets typically depreciate comparative to lower-risk assets.
He highlighted the uncertainty surrounding the aboriginal marketplace movements of ETH/BTC pursuing the halving event. Cowen predicted that if ETH/BTC witnesses a “relief rebound” aft the halving, past helium expects a rejection by the bull marketplace enactment band, peculiarly successful the discourse of play closing prices, estimated to scope betwixt $0.053 to $0.054.
While acknowledging his past successes successful predicting ETH/BTC terms movements, Cowen highlighted that his predictions stay speculative, stating, “Just due to the fact that I person been close truthful acold astir ETH/BTC does not mean I volition proceed being right.”
Featured representation from Finbold, illustration from Tradingview.com
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