However, one cryptocurrency analyst has predicted when Ethereum, the world's second-largest cryptocurrency, will bottom against Bitcoin under certain conditions.
Analyst predicts ETH/BTC bottom timeline
In a recent post on X (formerly Twitter), crypto analyst and founder of ITC Crypto Benjamin Cowen said: share His prediction on the Ethereum and Bitcoin price ratio predicts when ETH/BTC will reach its lowest value in the current market cycle.
While sharing his insights on the market situation, Mr. Cowen noted the striking similarities between current market dynamics and those seen in 2019. He revealed that the recent rally in ETH/BTC reflects the market movements of 2019. The Federal Reserve (FED) cut interest rates.
Cowen predicts that the ETH/BTC ratio will reach the following levels: lowest point in the price cycle When the Fed makes a significant change in monetary policy, this is often referred to as a “pivot.” Cryptocurrency experts expect this shift to occur within the next few months, suggesting that Ethereum will eventually bottom out against Bitcoin in the coming months.
His analysis is also based on the assumption that macroeconomic conditions and the Fed's monetary policy can have an impact. Significant impact on the virtual currency market. I will share the price chart of Ethereum against Bitcoin in another post, Cowen projected The ETH/BTC ratio will head towards the 0.03-0.04 range by summer.
Commenting on his prediction for the bottom price of ETH/BTC, a member of the crypto community said: Possibility of Fed rate cut When inflation was still high. Cowen responded that the lack of a rate cut further strengthens the belief that the ETH/BTC ratio has not yet reached its lowest point. He suggests that the ETH/BTC ratio could rise unless inflationary pressures are addressed. The downward trend continues.
Crypto experts call Ethereum a higher risk asset
In another post, Cowen said: Ethereum As a high-risk asset, Bitcoin as a low-risk asset. The cryptocurrency analyst's predictions regarding Ethereum versus Bitcoin are supported by his interpretation of capital movement dynamics, with riskier assets typically Decreased value compared to low-risk assets.
He highlighted the uncertainty surrounding the future market behavior of ETH/BTC after the halving event. Cowen said that if ETH/BTC shows an “accommodative rebound” after the halving, it will be rejected by the bull market's support band, especially in the context of weekly closing prices estimated to be in the $0.053 to $0.054 range. Expect.
While Cowen acknowledged his past success in predicting ETH/BTC price movements, he emphasized that his predictions remain speculative, saying, “Just because I've been right about ETH/BTC so far doesn't mean “This does not mean that we will continue to correct it in the future.”
ETH bulls fail to hold $3,000 | Source: ETHUSDT on Tradingview.com
Featured image from Finbold, chart from Tradingview.com
