Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-shows-new-opportunities-as-its-relationship-with-bitcoin-weakens/" data-wpel-link="internal">Ethereum Shows New Opportunities as Its Relationship with Bitcoin Weakens</a><br></p>
<p style="text-align: justify;">Ethereum is significantly weakening its relationship with Bitcoin , presenting new opportunities for market participants. According to CryptoQuant CEO Ki Young Ju, the ETH/BTC Net Unrealized Profit/Loss level has reached its lowest point in four years. This observed shift in Ethereum’s market dynamics suggests the potential onset of a new era.</p> 
<h2 style="text-align: justify;" id="eth-btc-correlation-hits-lowest-levels-in-recent-years">ETH/BTC Correlation Hits Lowest Levels in Recent Years</h2> 
<p style="text-align: justify;">Ethereum is losing its correlation with Bitcoin. Ki Young Ju stated, “The 180-day Pearson correlation between BTC and ETH is at its lowest in three years. A 10% increase in Bitcoin may only result in a 3% rise for Ethereum,” indicating that the two cryptocurrencies are now pursuing different paths. This independence of ETH suggests a focus on a distinct price movement separate from Bitcoin, signaling that investors should assess each asset with separate strategies.</p> 
<p style="text-align: justify;">Former Goldman Sachs executive Raoul Pal supports this view. He believes that Ethereum follows a model similar to Bitcoin’s from 2011 to 2019, and current charts suggest ETH’s acceleration. “Ethereum can gain momentum like Bitcoin. It is possible to reach the targeted $20,000/ETH level, but I expect an acceleration in direction from this point,” he remarked. These comments indicate that Ethereum has long-term profit potential.</p> 
<h2 style="text-align: justify;" id="ethereum-presents-opportunities-despite-declines">Ethereum Presents Opportunities Despite Declines</h2> 
<p style="text-align: justify;">As of the writing, Ethereum’s price is trading at $3,054. The second-largest <a href="https://en.coin-turk.com/jpmorgan-warns-about-the-recent-rally-in-the-cryptocurrency-market/" data-wpel-link="internal">cryptocurrency</a> by market capitalization has experienced a 1% decline in the past 24 hours. However, the four-year low in the ETH/BTC ratio may create new opportunities for investors. Ki Young Ju noted that Ethereum holders could capitalize on opportunities despite current losses.</p> 
<p style="text-align: justify;">The fact that ETH holders have not yet realized their losses mirrors the situation during early 2020’s lows. Market analysts emphasize that this scenario marks a critical turning point for investors. The declining correlation between Ethereum and Bitcoin highlights the need for investors to develop different strategies.</p> 
<p style="text-align: justify;">Whether Ethereum can progress according to its own dynamics remains one of the <a href="https://en.coin-turk.com/bitcoin-price-analysis-shows-stability-over-the-weekend/" data-wpel-link="internal">crypto</a> market’s most intriguing questions. The potential indicated by analysts offers hope for ETH’s future performance.</p> 
<p>The post <a href="https://en.coin-turk.com/ethereum-shows-new-opportunities-as-its-relationship-with-bitcoin-weakens/" data-wpel-link="internal">Ethereum Shows New Opportunities as Its Relationship with Bitcoin Weakens</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Ethereum Shows New Opportunities as Its Relationship with Bitcoin Weakens

Table of Contents

COINTURK NEWS

Other articles published on Nov 22, 2024

This Solid Resistance Could Halt Near Protocol (NEAR) Rally: FET Price Still Far From Breakout

90% Surge in Memecoin Index Sparks Investor Optimism Amid New Listings

UK to Introduce Comprehensive Crypto Regulations in Early 2025

Michael Saylor Advocates Bitcoin to Microsoft

Bitcoin Soars, But Is Ethereum Next? On-Chain Data Hints at ETH Surge

Sui partners with Franklin Templeton to boost blockchain innovation

Join our free newsletter for daily crypto updates!