Analyst Claims ETH/BTC Price Collapse Is Over As Ethereum Reaches $3.8K Again
Analysts Suggest Ether Is Inching Closer To The $4,000 Psychological Price Point
A Turning Point in the ETH/BTC Ratio
According to crypto analysts, Ether may be on the verge of a significant price increase against Bitcoin. The ETH/BTC ratio, which measures Ether’s relative strength to Bitcoin, has been steadily increasing over the past few months.
"I think the ETH/BTC collapse is over (or nearly over), and it should go higher over the next 6-12 months," said Into The Cryptoverse founder Benjamin Cowen in a recent Xpost. This bullish prediction suggests that Ether’s underperformance against Bitcoin may be nearing its end, with many traders speculating on a surge in Ether’s price.
Historical Trends Indicate a Shift
The ETH/BTC ratio has historically shown a tendency to increase during the months of December and January. As Cowen noted, "historically ETH/BTC usually starts going up" during this period. The current trend is further supported by the fact that the ETH/BTC pair hit its all-time low of 0.00217 in December 2015.
Recent Price Action Supports a Bullish Outlook
The past 30 days have seen a significant increase in the ETH/BTC ratio, with a 9.14% rise over this period. This trend is expected to continue, with many analysts predicting that Ether will reach the $4,000 price level in the near future.
Recent Price Action and Market Sentiment
Ether’s Price Movement
At the time of publication, Ether was trading at $3,846, according to CoinMarketCap data. This represents a 5.5% gain over the past 24 hours, falling slightly short of tapping the $3,900 price level.
Bitcoin’s Performance
Meanwhile, Bitcoin recorded a 5.5% gain during the same period, with its current price at $101,345. This performance has contributed to the growing sentiment that Ether is poised for a significant price increase.
Market Participants Weigh In
Expert Opinions and Predictions
Several market participants have weighed in on the potential price movement of Ether. Bitwise Invest CEO Hunter Horsley stated that "no one will be surprised when ETH crosses $4,000." He further emphasized the importance of Ethereum’s position as a leading blockchain ecosystem, highlighting its growing market share.
"Ethereum is the world’s most decentralized, valuable and mature general-purpose blockchain," said Galaxy Digital head of research Alex Thorn. "I don’t see any blockchain ecosystem, including Bitcoin and Solana, coming close to unseating the Ethereum ecosystem as the mecca for decentralized applications."
Pseudonymous Trader Predicts Short Squeeze
MisterSpread, a pseudonymous crypto trader, has predicted that reaching the $4,000 price level may result in a short squeeze pushing Ether’s price further. "Once ETH breaks the $4,000 area, there is a high chance we see a God candle to $5,000," MisterSpread said.
Conclusion
The current market trends and expert opinions suggest that Ether’s underperformance against Bitcoin may be nearing its end. With many analysts predicting a surge in Ether’s price, it is likely that the ETH/BTC ratio will continue to increase over the next few months.
What’s Next for Ethereum?
As the price of Ether continues to rise, investors and traders are left wondering what lies ahead for this leading blockchain ecosystem. Will the $4,000 price level be reached, and if so, what impact will it have on the broader market?
Only time will tell, but one thing is certain: Ethereum’s growing market share and increasing adoption rate make it an attractive investment opportunity for those looking to capitalize on its future growth.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
