Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Ethereum May Be Nearing a Bottom Against Bitcoin, Analyst Suggests

Ethereum May Be Nearing a Bottom Against Bitcoin, Analyst Suggests

Cryptodnes2024/08/16 11:42
By:Cryptodnes

Crypto analyst Benjamin Cowen suggests Ethereum (ETH) could be approaching a bottom in its valuation against Bitcoin (ETH/BTC).

In his recent video update , Cowen noted that ETH / BTC might have hit a low at 0.04 BTC, though he warns that historical patterns show the pair could briefly fall below this level before potentially rising.

Cowen draws parallels with past cycles from 2016 and 2019, where ETH/BTC initially dropped below its previous low but eventually recovered.

He advises that while the current level might seem like a bottom, there’s still a chance of a further dip before any significant rebound. Historically, these temporary lows have been followed by stronger recoveries, as seen in the previous cycles.

READ MORE:
Tron Poised to Challenge Visa as USDT Settlements Surge

Cowen’s analysis points to a recurring trend where Ethereum’s price against Bitcoin experiences short-term declines before finding a solid bottom and gaining upward momentum.

Investors should remain cautious but also attentive to potential buying opportunities, as these past patterns suggest that patience could be rewarded with future gains.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

ScottSolanaCoin Dives Into the Meme Coin Arena with a Bold Entry

In Brief ScottSolanaCoin ($SCOTT) launched its presale with community-driven aspirations and bold announcements. The presale has specific conditions and investors are advised to conduct their own research. $SCOTT aims to distinguish itself with community trust, transparent utility, and long-term commitment.

Cointurk2025/05/20 11:24
ScottSolanaCoin Dives Into the Meme Coin Arena with a Bold Entry

Aave Surges 21.57% Following v3 Aptos Launch

TokenTopNews2025/05/20 10:56
Aave Surges 21.57% Following v3 Aptos Launch