Traders Warn Against Writing Off Ethereum Despite Recent Drop Against Bitcoin
Despite an 18% drop against Bitcoin in the past six weeks, traders are warning against being bearish on Ethereum, with its momentum being described as "undeniable." The ETH/BTC ratio is currently at 0.0332, down 17.5% since December 5th, but during the last bull market cycle, the ratio bottomed out at a similar level before surging to 0.077 two months later. Some analysts believe that Ethereum could benefit from Bitcoin's wider adoption, with one predicting that if the Strategic Bitcoin Reserve rolls out after Trump takes office, it could push Bitcoin towards $1 million this cycle, which would also be bullish for Ether. However, some are concerned that the Ethereum Merge isn't playing out as expected.
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.
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