Analyst Benjamin Cowen Says Ethereum Primed To Go Up Against Bitcoin – Here’s the Timeline

A carefully watched crypto strategist thinks Ethereum (ETH) is gearing up for an enormous breakout in opposition to Bitcoin (ETH/BTC).

Analyst Benjamin Cowen tells His 849,000 followers on the social media platform

“A yr later it’s nearly prepared. I feel the reckoning of altcoins will finish this yr. The altcoin settlement refers back to the devaluation of altcoins on their BTC pairs. Subsequent yr ETH/BTC ought to rise, however there are nonetheless 4 and a half months to go till 2025.”

ETH/BTC is buying and selling at 0.04450 BTC ($2,584) on the time of writing, down barely over the previous 24 hours.

Cows too say in a brand new YouTube video {that a} potential correlation between Ethereum and the US Greenback Index (DXY) might point out what ETH’s value motion may very well be within the ultimate months of 2024. The US Greenback Index is a measure of the worth of the US greenback in comparison with a basket of different broadly traded world currencies.

A DXY in an uptrend signifies a strengthening US greenback, whereas a downtrend DXY signifies a weakening US greenback.

“One of many issues to notice on the time with ETH was that it had a sell-off right here in June, July and August [of 2016]similar to we had this yr in June, July and August. September was inexperienced [in 2016]. So possibly we’ll have a inexperienced September. After which October, November and December had been crimson [in 2016]. So preserve that in thoughts. However the purpose why that is fascinating…the explanation it was crimson was as a result of the greenback rose within the fourth quarter of 2016.”

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