Ethereum

2024

Merge

Bitcoin

<p>The second most popular crypto, Ethereum, remains behind Bitcoin, in terms of its performance. Since the Ethereum September 2022 Merge update, the pair ETH/BTC has been trading below 0.04, the lowest level since April, 2021. This reflects a 53% loss.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Binance shows that the ETH/BTC rate has fallen below 0.04, hitting a new low since April 20, 2021, temporarily reported at 0.03985. The rate reached a historical high of 0.1238 in January 2018 and a historical low of 0.01615 in September 2019. <a href="https://t.co/8hGTwydjmM">https://t.co/8hGTwydjmM</a> <a href="https://t.co/Yaq6NkP5BS">pic.twitter.com/Yaq6NkP5BS</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1835496785638527139?ref_src=twsrc%5Etfw">September 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Ether, which directly competes with <a href="https://www.thecoinrepublic.com/price-prediction/bitcoin/">Bitcoin</a>, has always been considered the most probable candidate to become the world’s largest cryptocurrency market value.</p> 
<p>At the height of the initial coin offering (ICO) frenzy in mid-2017, such a theoretical scenario was almost about to come to pass. Ether was on the verge of surpassing Bitcoin as the most valuable cryptocurrency in terms of market value in June 2017.</p> 
<p>In the beginning of 2018 Ether was nearing Bitcoin and by 2021 a spree over DeFi and NFTs triggered another renaissance. However, it could not turn the tables and depose Bitcoin to have the reign on market capitalization. What is more, it seems that the widely discussed changing of the guard will not occur in the near future.</p> 
<h2 class="wp-block-heading" id="h-eth-btc-could-bottom-between-0-03-0-04"><strong>ETH/BTC Could Bottom Between 0.03-0.04</strong></h2> 
<p>Benjamin Cowen examined past trends in the ETH/BTC ratio and hypothesized that Ethereum is coming to the end of its underperformance cycle relative to Bitcoin.</p> 
<p>Cowen predicted <a href="https://www.thecoinrepublic.com/price-prediction/ethereum/">ETH</a> to trade at under $2,000 by the end of the year, maybe to climb a bit in 2025.</p> 
<p>He provided a bearish outlook in the short term and a rather bullish outlook for the long term, investing in both BTC and ETH. As the market shifts in the future, he urged investors to consider tweaking their crypto investment profile, maybe increasing the Ethereum holding.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">It's almost over.<br><br>I think <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> / <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> will likely bottom between 0.03-0.04 and then trend up in 2025.<br><br>It could bottom as early as this week or as late as December<br><br>Based on prior capitulations, I think it will happen sooner rather than later<br><br>Will make a video about it tomorrow <a href="https://t.co/rwqj5u4n8A">https://t.co/rwqj5u4n8A</a> <a href="https://t.co/lc7iMruoqf">pic.twitter.com/lc7iMruoqf</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1835484787278049305?ref_src=twsrc%5Etfw">September 16, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The crypto expert stated that ETH/BTC will likely bottom between 0.03-0.04 and then trend up in 2025. According to Cowen’s investigation, the cryptocurrency market is presently going through a quantitative tightening period that is similar to 2019. </p> 
<p>He anticipates that once the Federal Reserve changes its monetary policy, this period will give way to a phase of quantitative easing.</p> 
<p>In a previous podcast, the expert cited relationships between the fluctuations of the cryptocurrency market and macroeconomic variables such as interest rates and the Fed’s balance sheet. “Monetary policy plays an important role in exactly how the cycle plays out,” Cowen stated.</p> 
<p>The expert noted that investors should consult and use their personal assessment of risk while taking responsibility for any investment decision in consulting investment experts.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-readies-for-a-surge-as-eth-holders-remain-hopeful"><strong>Bitcoin Readies For a Surge as ETH Holders Remain Hopeful</strong></h2> 
<p>On Friday, Crypto had a rally with Bitcoin (BTC) just below $60,000. This was due to the significant improvements recorded on some of the core markets. Following the announcement earlier in the day that software company <a href="https://www.thecoinrepublic.com/2024/09/14/microstrategy-acquires-1-11b-in-btc-yields-17-ytd/">MicroStrategy bought</a> 18,300 BTC for $1.1 billion, the price of bitcoin fell by almost 1% to $57,600. </p> 
<p>The biggest cryptocurrency soon made up for its losses and surged later in the day. However, BTC price has dropped, and as of this writing, it’s trading at $58,789 over the past 24 hours. Holders of Ethereum are hopeful for a potential jump to $2,500. ETH price has dropped by 11.55% since the beginning of the month and is currently trading at $2,295.</p>  
<p>The post <a href="https://www.thecoinrepublic.com/2024/09/17/bitcoin-dominates-as-eth-hits-three-year-low-0-04-btc-level-whats-next/">Bitcoin Dominates as ETH Hits Three-Year Low, What Next?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Bitcoin Dominates as ETH Hits Three-Year Low, What Next?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 17, 2024

DeltaPrime DeFi Protocol Lost $5.9M in Ongoing Exploit: Report

FOMC Meeting Begins Today: Why Bitcoin Might Not Benefit From Rate Cuts

Stocks to Watch Today: Intel, HPE, and MSFT

Standard Chartered Enters UAE Crypto Market with Custody Services for Bitcoin and Ethereum

Sui Network Integrates USDC and CCTP

This Country Surprises: Holds More Bitcoin Than El Salvador!

Join our free newsletter for daily crypto updates!