ETH/BTC Rate Drops Below 0.04, Reaches Lowest Level Since April 2021
Th cryptocurrncy mrkt continus its rollrcostr rid, with th Ethrum (ETH) to Bitcoin (BTC) xchng rt plunging to its lowst lvl sinc April 2021. According to dt from Binnc, th ETH/BTC rtio dippd s low s 0.03985, considrbl drop from its historicl pk of 0.1238 in Jnury 2018. This rcnt dclin mrks significnt shift in mrkt dynmics, rising concrns mong invstors nd nlysts.
Prominnt industry figur Alx Thorn highlightd th stggring 53% drop sinc th Ethrum Mrg in Sptmbr 2022 nd qustiond wht might rvrs this trnd.
Svrl trdrs shrd thir prspctivs in rspons to his post on X. Montn Mn suggstd tht drop in Bitcoins mrkt dominnc could rvrs th currnt dclin of ETH/BTC. H commntd, BTC dom flling stops this trin nd rvrss it.
Anothr trdr, Joshu pointd to th rising comptition from Soln (SOL), chllngr dspit its lowr mrkt cp. H notd tht Bitcoin ws oftn msurd ginst Ethrum in th pst, but this comprison hs diminishd with BTC solidifying its digitl gold sttus.
ETH/BTC Ratio Near Reversal
Hop rmins, howvr. Bnjmin Cown, CEO/Foundr of ITC_Crypto, prdictd in Sptmbr 16 post tht th ETH/BTC rtio would likly rch low btwn 0.03 nd 0.04 bfor rising gin in 2025. Intrstingly, th rtio hs hit th prdictd rng, indicting possibl rvrsl soon.
Adding to th optimism is rcnt nlysis by Mstr Knobi. H drw prllls btwn historicl Bitcoin hlving cycls nd obsrvd tht Ethrums pric typiclly dippd ftr hlving vnt bfor xprincing significnt rbound. In both 2017 nd 2021, rvrsls occurrd roughly 168 nd 224 dys post-hlving, rspctivly.
With th currnt mrkt roughly 150 dys post-hlving, Knobi blivs rvrsl is imminnt, spcilly considring th influnc of th Bitcoin ETF. H furthr mphsizs th importnc of th yllow support lin on linr chrt, indicting crucil long-trm support zon for Ethrum.
Dspit th rcnt slump, Knobi rmins bullish on Ethrums long-trm prospcts. H blivs rcovry is likly undrwy, potntilly pulling th ntir ltcoin mrkt with it. H rgus tht Ethrums cor fundmntls hvnt wknd, nd lik Bitcoin, Ethrum now hs its own ETF. Knobi blivs th currnt downwrd prssur is likly tctic to wd out wkr invstors.
Knobi furthr prdicts tht n ltcoin sson is on th horizon, potntilly strting t ny momnt. Additionlly, h highlights tht th historicl 365-dy mrk post-hlving oftn coincids with th first pk of bull mrkt, which could occur round mid-April nxt yr.
Related Readings | ETH/BTC Poised for Explosive 140% Surge, Analysts Predict Bullish Reversal
Read more: https://www.tronweekly.com/eth-btc-reaches-lowest-level-since-april-2021/
Text source: TronWeekly
