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

Expert Predictions: CATZILLA Among the Top 5 Memecoins for 500x Returns by 2025

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

DOJ Shuts Down PopeyeTools, Recovers $283K in Crypto

Spot ETFs for Solana, XRP, and HBAR: A Signal for the Next Altcoin Season?

1.67T SHIB Exit Exchanges: Can Shiba Inu Repeat History With 62% Surge?

Ethereum Skyrockets as new Stealthily Launched Memecoin

Join our free newsletter for daily crypto updates!