As a seasoned researcher with over two decades of experience in the financial markets, I’ve seen trends come and go, but the potential growth of Ethereum (ETH) against Bitcoin (BTC) seems particularly intriguing. The predictions made by analysts like ‘CryptoBullet’ and ‘TopGcrypto’ are captivating, to say the least.
Crypto investors may need to start paying attention to Ethereum (ETH), as the cryptocurrency’s price could be gearing up for a major rally against Bitcoin. A crypto analyst predicts a potential 180% surge in the ETH/BTC trading pair, signaling that now might be an opportune time for investors to consider converting their BTC holdings to Ethereum.
Time To Swap Bitcoin For Ethereum
As a crypto investor, I’ve found myself navigating through a rather challenging period with Ethereum. Over these last few months, the downward trend in its price has been so pronounced that it’s earned the label of “the ultimate drama of this cycle” by analysts. Yet, despite the debut of Spot Ethereum Exchange Traded Funds (ETFs), the overall sentiment towards ETH remains subdued, and its price continues to experience volatile movements.
Considering the recent downturn in Ethereum’s value, a cryptocurrency analyst known as ‘CryptoBullet,’ has stated that we are now approaching the final phase of the ETH/BTC bear market. This expert believes that there could be a 180% increase in the ETH/BTC pair, suggesting that it might be wise for investors to start exchanging their Bitcoin for Ethereum to prepare for Ethereum’s predicted price recovery.
On September 12, an analyst shared insights on X (previously known as Twitter) regarding his analysis of the Ethereum to Bitcoin trading pair’s pattern on the monthly graph. CryptoBullet noted that the monthly ETH/BTC graph has consistently shown a recurring trend in the price fluctuations of Ethereum relative to Bitcoin over the years.
This consistent pattern exhibits three stages: first, a testing phase; second, a phase where there’s a breakdown and accumulation; third, an upswing leading to new peak levels (or highs). CryptoBullet has previously recognized this distinctive sequence in various market cycles, such as from 2016 to 2017, followed by a significant price surge, then from 2018 to 2021, and now starting from 2022, with predictions of a robust price recovery that may continue up to 2025.
As a researcher, I’m sharing my forecast for Ethereum based on our analysis. We see 2022 as a testing phase, followed by an accumulation and breakdown period in 2024. By extrapolating these trends, we anticipate that the price of Ethereum relative to Bitcoin could potentially reach $0.0885 or $0.11. This projection implies that by 2025, the value of one Ethereum may be approximately $5,109 or $6,351, assuming the current Bitcoin price remains constant.
New Bullish Targets Unveiled For ETH
According to TopGcrypto, a crypto expert at X, Ethereum might reach unprecedented prices by the end of this year. This prediction is based on the current robust price trends Ethereum is exhibiting, which are bringing it close to a significant resistance trend line.
TopGcrypto recently shared an Ethereum price chart tracing its fluctuations from July through September. Notably, they highlighted that the significant resistance point lies approximately at $3,115. If Ethereum manages to break this important trendline, it might suggest a promising moment for investors to think about purchasing Ethereum, as it could mean a good time to consider going long on this cryptocurrency.
Based on the analyst’s prediction, a breakout could potentially propel the value of Ethereum towards potential highs of $2,560, $2,780, and $3,115. At the moment, Ethereum is being traded at $2,338, as per CoinMarketCap’s current data.
Read More
Sorry. No data so far.
2024-09-13 19:16