Crypto analyst Benjamin Cowen thinks Ethereum (ETH) might be nearing its lowest point against Bitcoin (BTC) in the coming months.
ETH/BTC: A Bottom in Sight?
Cowen, who has a big following on social media, believes the ETH/BTC pair will likely hit bottom before the end of the year. He doesn’t think it will drop much further than its current level.
He’s predicting the ETH/BTC pair will settle somewhere between 0.03 and 0.04 BTC. If it goes lower, he thinks it will stop around 0.036 BTC. He’s not too worried about it going much lower than that.
ETH/USD: A Bullish Future?
While Cowen sees a bottom for ETH against BTC, he thinks Ethereum’s price against the US dollar (ETH/USD) might not pick up until next year. He says it will likely be weak until the end of 2024, similar to what happened in 2016 and 2019.
Bitcoin Dominance: A Peak and a Dip
Cowen also thinks Bitcoin’s dominance, which measures its market share compared to other cryptocurrencies, will likely reach its peak around 60% before the end of the year. He expects it to start declining in 2025.
Remember: This is just one analyst’s opinion. It’s always a good idea to do your own research before making any investment decisions.
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