Renowned cryptocurrency analyst Benjamin Cowen has shared insights regarding Ethereum’s (ETH) performance in relation to Bitcoin (BTC) with his 866,700 followers on the social media platform X. Cowen suggests that the ETH/BTC pair may stabilize by the end of the year, indicating potential for a turnaround in its performance.
Will the ETH/BTC Pair Experience a Downtrend?
Cowen assesses the probability of a significant decline in the ETH/BTC pair to be minimal, underlining the influence of market expectations on its trajectory. He expresses confidence that significant downturns are unlikely at this stage.
In addition, Cowen projects that Bitcoin’s market dominance might hover around 60% by year-end. He cautions, however, that this trend could reverse as we approach 2025. He anticipates the ETH/BTC pair finding its footing within the range of 0.03 to 0.04 shortly, with Ethereum currently trading around 0.03891 BTC (approximately $2,617).
Traders should consider these critical takeaways:
- ETH/BTC pair is expected to stabilize soon.
- ETH/USD could strengthen but may need more time.
- Bitcoin’s market dominance may rise but face a decline by 2025.
With ongoing uncertainties in the cryptocurrency landscape, Cowen urges traders to remain vigilant and adapt their investment strategies to current market shifts. His evaluations provide essential guidance for those navigating the complexities of cryptocurrency trading.