Bitcoin

Ethereum on the Brink of Bottoming Out Against Bitcoin, According to Benjamin Cowen – Here Are His Targets

Published

1 year ago

October 18, 2024

Cryptocurrency analyst Benjamin Cowen predicts the doubtless trajectory of Ethereum (ETH) versus Bitcoin (BTC) within the coming weeks and months.

Cows tells In keeping with its 866,700 followers on social media platform

In keeping with Cowen, the ETH/BTC pair is unlikely to fall greater than 20% from present ranges.

“When you have been bullish on ETH/BTC at 0.08, however bearish at 0.038, the market has fully fooled you.

Sure, ETH/BTC might fall, however the time to make the commerce was two years in the past, not right this moment.

ETH/BTC will doubtless backside between 0.03-0.04 (which is the present vary) *THIS QUARTER* (This fall 2024).

If 0.038 just isn’t the underside, then 0.036 might be the following cease. The worst case situation is 0.03, however I extremely doubt it will likely be that low.”

ETH is buying and selling at 0.03891 BTC ($2,617) on the time of writing.

As for the Ethereum/US greenback pair, the extensively adopted analyst says ETH/USD might flip bullish subsequent yr.

“ETH/USD will doubtless be weak till the tip of the yr, like 2016 and 2019 (additionally the years when ETH/BTC went bust), however I feel it’s going to discover some renewed energy in 2025.”

Cowen continues say that Bitcoin dominance, the ratio of Bitcoin’s market capitalization to the opposite crypto belongings, is more likely to attain round 60% earlier than the tip of the yr and pattern downward in 2025.

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