{"id":605854,"date":"2024-04-30T21:00:03","date_gmt":"2024-04-30T21:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=605854"},"modified":"2024-04-30T14:22:16","modified_gmt":"2024-04-30T14:22:16","slug":"ethereum-price-prediction-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-prediction-bitcoin\/","title":{"rendered":"Ethereum Price Prediction: Crypto Expert Says ETH Is Yet To Bottom Against Bitcoin"},"content":{"rendered":"
A crypto analyst has predicted when Ethereum, the world\u2019s second-largest cryptocurrency, will bottom against Bitcoin, however, under certain conditions.\u00a0<\/span><\/p>\n In a recent X (formerly Twitter) post, crypto analyst and founder of ITC Crypto, Benjamin Cowen, <\/span>shared<\/span><\/a> his forecast regarding the Ethereum to Bitcoin price ratio, projecting the timeline for when ETH\/BTC would hit its lowest value in the current market cycle.\u00a0<\/span><\/p>\n Sharing insights on the market conditions, Cowen noted striking similarities between the present market\u2019s dynamics and the one seen in 2019. He disclosed that ETH\/BTC\u2019s recent bounce mirrored the market\u2019s behavior in 2019, two months before the <\/span>Federal Reserve (FED) cut down rates.\u00a0<\/span><\/a><\/p>\n Cowen predicts that the ETH\/BTC ratio will reach the <\/span>lowest point in its price cycle<\/span><\/a> when the FED makes a significant change in its monetary policy, often referred to as a \u201cpivot.\u201d The crypto expert expects this pivot to occur in a few months, ultimately suggesting that Ethereum would bottom against Bitcoin in the coming months.\u00a0<\/span><\/p>\n His analysis is also based on the assumption that macroeconomic conditions and the FED\u2019s monetary policies can <\/span>significantly impact the cryptocurrency market<\/span><\/a>. Sharing a price chart of Ethereum against Bitcoin in another post, Cowen <\/span>projected<\/span><\/a> that the ETH\/BTC ratio will head towards a range of 0.03 and 0.04 by summer.\u00a0<\/span><\/p>\n Commenting on his prediction of ETH\/BTC\u2019s bottom, a crypto community member expressed skepticism about the <\/span>FED\u2019s likelihood of cutting down rates <\/span><\/a>while inflation was still high. Cowen responded that the absence of a rate cut 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 may <\/span>continue on its downward trend.<\/span><\/a>\u00a0<\/span><\/p>\n In another post, Cowen referred to <\/span>Ethereum<\/span> as a higher-risk asset and Bitcoin as a lower-risk asset. The crypto analyst\u2019s forecast on Ethereum against Bitcoin is underpinned by his interpretation of capital migration dynamics, suggesting that higher-risk assets typically <\/span>depreciate relative to lower-risk assets<\/span><\/a>.<\/span><\/p>\n He highlighted the uncertainty surrounding the future market movements of ETH\/BTC following the halving event. Cowen predicted that if ETH\/BTC witnesses a \u201crelief rebound\u201d after the halving, then he expects a rejection by the bull market support band, particularly in the context of weekly closing prices, estimated to range between $0.053 to $0.054.\u00a0<\/span><\/p>\nAnalyst Predicts ETH\/BTC Bottom Timeline<\/h2>\n
Crypto Expert Calls Ethereum A Higher Risk Asset<\/h2>\n