Originally published on: December 05, 2024
As Ether continues its journey towards the $4,000 mark, crypto analysts are optimistic that the underperformance of Ether against Bitcoin is coming to an end.
According to Benjamin Cowen, founder of Into The Cryptoverse, the collapse of the ETH/BTC ratio has either already ended or is nearing its conclusion. Cowen predicts that Ether will see an upward trend over the next 6-12 months, with the potential to surpass the $4,000 psychological price point.
The ETH/BTC ratio currently stands at 0.03811, reflecting Ether’s relative strength to Bitcoin. As Bitcoin surpasses the $100,000 mark, traders are speculating on a surge in Ether with historical data suggesting that the ETH/BTC ratio tends to rise in December or January.
In the past 30 days, the ETH/BTC ratio has increased by 9.14%, indicating growing confidence in Ether’s performance. With Ether trading at $3,846 at the time of publication, momentum is building towards the $4,000 milestone.
Crypto traders and analysts are bullish on Ether’s potential, with predictions of a 25% surge once the $4,000 level is breached. MisterSpread suggests that a short squeeze could propel Ether’s price to $5,000 with the liquidation of shorts above the $4,000 mark.
Hunter Horsley, CEO of Bitwise Invest, emphasizes that Ethereum has a unique position in the blockchain ecosystem, offering distinct advantages over other protocols. With the potential for exponential growth, Horsley foresees no serious competition for Ethereum in the near future.
As Ether gains momentum and Bitcoin maintains its position, the crypto market is brimming with opportunities for traders and investors. Stay tuned for further updates and insights on the cryptocurrency landscape.
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