Ethereum

Future

Bitcoin

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/benjamin-cowen-analyzes-ethereums-position-against-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Benjamin Cowen Analyzes Ethereum’s Position Against Bitcoin</a><br></p>
<p style="text-align: justify">Prominent <a href="https://en.coin-turk.com/key-developments-in-the-cryptocurrency-market-this-week-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> analyst Benjamin Cowen indicated that Ethereum’s (ETH) downtrend against Bitcoin (BTC) is nearing its final stages. In his assessments via YouTube, Cowen suggested that Ethereum could initiate a significant rally against Bitcoin based on historical models.</p>
<h2 id="status-of-the-eth-btc-pair">Status of the ETH/BTC Pair</h2>
<p style="text-align: justify">Cowen noted that the ETH/BTC pair tends to form a bottom two to three months after losing its support level. He mentioned that this bottom might occur soon, although he did not provide a specific timeline.</p>
<blockquote>
 <p>“ETH/BTC typically bottoms within two to three months after breaking support. This bottom should happen soon, but I don’t know exactly when. However, I think it will be relatively soon.” – Benjamin Cowen</p>
</blockquote>
<h2 id="bitcoin-s-market-dominance">Bitcoin’s Market Dominance</h2>
<p style="text-align: justify">Cowen explained that Ethereum is in the last stages of its downtrend since Bitcoin’s market dominance (BTC.D) is expected to reverse. Currently, Bitcoin’s market dominance stands at 60.14%, while the ETH/BTC pair has declined by 1.58% to a level of 0.036.</p>
<blockquote>
 <p>“I believe that within a year, ETH/BTC will be much higher than it is now. It might drop a little in the short term, but I think it will be much higher within a year.” – Benjamin Cowen</p>
</blockquote>
<h2 id="future-predictions">Future Predictions</h2>
<p style="text-align: justify">Cowen remarked that many individuals have abandoned Ethereum in favor of Bitcoin, but this behavior reflects a normal pattern that has occurred twice before and is likely to repeat for a third time. His belief that the ETH/BTC pair is nearing the final stages of its downtrend implies that Bitcoin’s dominance is also approaching the end of its upward trend.</p>
<p style="text-align: justify">According to the analyst, the completion of Ethereum’s cyclical downturn could pave the way for new opportunities in the <a href="https://en.coin-turk.com/bitcoin-price-drops-and-south-korea-implements-crypto-monitoring-system/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a>. This period could be significant for reevaluating the dynamics between Ethereum and Bitcoin.</p>
<p style="text-align: justify">In conclusion, the future of the ETH/BTC pair will continue to be shaped by market dynamics and overarching cryptocurrency trends. During this process, it is crucial for market participants to act carefully and thoughtfully.</p>
<p>The post <a href="https://en.coin-turk.com/benjamin-cowen-analyzes-ethereums-position-against-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Benjamin Cowen Analyzes Ethereum’s Position Against Bitcoin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Benjamin Cowen Analyzes Ethereum’s Position Against Bitcoin

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