Ethereum Predicted to Lose 40% Against Bitcoin, Warns Top Crypto Analyst
Crypto Analyst Predicts Significant Setback for Ethereum
A well-respected crypto market analyst has issued a grave warning about the future of Ethereum (ETH) in the crypto market. The analyst, armed with a PhD in Engineering, has gained prominence for his insightful analyses. His latest findings on the trajectory of Ethereum against Bitcoin may send shockwaves through the crypto space.
Projected 40% Fall for Ethereum Against Bitcoin
According to the analyst’s analysis, Ethereum is set to endure a significant setback, with a projected 40% fall against Bitcoin. The analyst substantiated his claim by pointing to the continuous decline of the Ethereum/Bitcoin ratio. He emphasized that this decline might mark the culmination of the altcoin reckoning.
Detailed Chart Illustrates Ethereum’s Potential Fall
The expert’s prediction was underscored by a detailed chart he shared on social media, illustrating Ethereum’s potential fall from its current position of 0.057 BTC to a worrisome low of 0.035 BTC.
Consistent Bearish Sentiment on Ethereum
This dire forecast is not the first of its kind from the analyst. Back in June, he first expressed his bearish sentiment on Ethereum against Bitcoin, foreseeing the collapse of the Ethereum/Bitcoin ratio. Despite the gradual pace of the decline, the analyst remained steadfast in his analysis, reiterating his concerns last week about the ongoing downtrend.
Growing Dominance of Bitcoin and Its Impact on Altcoins
The analyst’s prediction is based on his assessment of the growing dominance of Bitcoin and the consistent drain of liquidity from the broader cryptocurrency market. As Bitcoin continues to assert its dominance, the allure of altcoins like Ethereum may wane, potentially leading to the projected devaluation against Bitcoin.
This article was originally published on U.Today
