• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Ethereum

Bitcoin Vs. Ethereum: Legendary Analyst Says He’s ‘Pretty Confident’ ETH Will Outperform

n70products by n70products
September 13, 2024
in Ethereum
0
Bitcoin Vs. Ethereum: Legendary Analyst Says He’s ‘Pretty Confident’ ETH Will Outperform
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Legendary crypto analyst, Benjamin Cowen has expressed confidence that Ethereum (ETH), the world’s largest altcoin, might outperform Bitcoin (BTC) quickly. This optimistic projection comes as each main cryptocurrencies expertise significant price fluctuations, nevertheless, Cowen foresees Ethereum’s present downtrend concluding by yr’s finish, setting the stage for a resurgence.  

Ethereum On Observe To Outperform Bitcoin

In a current interview on the Bankless podcast, Cowen offered an in-depth evaluation of present crypto market situations, emphasizing Bitcoin and Ethereum price movements in comparison with earlier bull cycles. The analyst supplied insights into Ethereum’s outlook, believing that the cryptocurrency will outperform Bitcoin within the subsequent bull cycle. 

Cowen disclosed that the Third Quarter (Q3) of 2024 has been comparatively boring, with August and September seeing sharp price declines and unfavorable sentiment all through the broader crypto market. He predicted that Ethereum might drop even decrease from this level earlier than experiencing any notable uptick in its price. 

The analyst famous that Ethereum normally follows a singular pattern sample in every cycle, the place the ETH/BTC buying and selling pair tends to achieve a high, then a low and subsequently types a decrease excessive. He disclosed that in 2016, Ethereum broke assist for the primary time, peaked after which skilled a decline of over 70%. Nevertheless, the cryptocurrency ultimately recovered and resumed its upward trajectory within the post-halving yr.

Cowen highlighted that this distinctive value motion has been repeated in each bull cycle, and Ethereum is at the moment following an identical trajectory. He identified that traditionally, throughout earlier bull cycles, Ethereum has outperformed Bitcoin, expressing confidence that the cryptocurrency might achieve this once more on this cycle. 

Consequently, Cowen anticipates a pivot from the Federal Reserve (FED) is imminent, which he believes would drive the ETH/BTC pair to a price bottom by the top of the yr. The analyst has predicted that the price of Ethereum might doubtless drop beneath $2,000 within the Fourth Quarter (This fall) of this yr, earlier than experiencing a bounce to new ranges. 

Is The Bull Market Lifeless?

In the course of the podcast, Cowen was bombarded with a ton of questions, essentially the most notable being, ” Is the bull market over?” The explanation behind this query may be attributed to the present market situations within the crypto area. 

Following Bitcoin’s all-time high of over $73,000 in March 2024, the cryptocurrency has been on a large downtrend, even falling below $54,000 sooner or later this yr. This sudden bearish pattern after its halving occasion on April 20 has led to speculations of the bull run being over. 

In addressing whether or not the bull market has ended or is but to start, Cowen clarified that the market has already skilled the Quantitative Tightening (QT) part of the bull market and is positioning itself for a Quantitative Easing (QE) bull market by 2025.  

Bitcoin price chart from Tradingview.com (Ethereum)
BTC value holds $58,000 | Supply: BTCUSD on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com



Source link

Tags: AnalystBitcoinConfidentETHEthereumHesLegendaryOutperformpretty
Previous Post

Analyst Says Bitcoin To Go ‘Higher Soon,’ Maps Path Forward for Memecoin That’s Up Nearly 700% in Under a Month

Next Post

Bitcoin Cash Eyes $288 As Bears Take Charge After Trendline Rejection

Next Post
Bitcoin Cash Eyes $288 As Bears Take Charge After Trendline Rejection

Bitcoin Cash Eyes $288 As Bears Take Charge After Trendline Rejection

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It?

Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It?

October 31, 2024
Congress on track for stablecoin, market structure bills by August: Blockchain Association

Congress on track for stablecoin, market structure bills by August: Blockchain Association

March 19, 2025
$1.2B In Ethereum Withdrawn From CEXs – Strong Accumulation Signal

$1.2B In Ethereum Withdrawn From CEXs – Strong Accumulation Signal

May 15, 2025

Recents

ETH Price Recovery to $3,000 Soon Amid Staking Push for Ethereum ETFs

ETH Price Recovery to $3,000 Soon Amid Staking Push for Ethereum ETFs

June 1, 2025
Cronos Defies Crypto Market Downtick on Friday As Asset Manager Canary Capital Files for CRO ETF

Cronos Defies Crypto Market Downtick on Friday As Asset Manager Canary Capital Files for CRO ETF

June 1, 2025
US opens door to retirement savers purchasing crypto tokens

US opens door to retirement savers purchasing crypto tokens

June 1, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Foundation Heres high hits Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version