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Cryptocurrency analyst Benjamin Cowen evaluates Ethereum’s (ETH) performance against Bitcoin (BTC) 
$84,688 in the upcoming period. In a statement to his 866,700 followers on the social media platform X, Cowen indicated that it is “possible” for the Ethereum 
$1,595/Bitcoin (ETH/BTC) pair to make a bottom by the end of the year.
Is ETH/BTC Pair on the Verge of Decline?
Cowen perceives the likelihood of the ETH/BTC pair declining by more than 20% from current levels to be low. He also emphasized how market expectations shape this pair’s movements.
Addressing Ethereum’s performance against the US dollar, Cowen forecasts potential bullish signals for the ETH/USD pair in the next year. However, he warns that ETH/USD may remain weak while ETH/BTC is declining. This trend was similarly observed in 2016 and 2019. According to Cowen, real strength for Ethereum against the US dollar may take until 2025 to materialize.
Expectations on Bitcoin Dominance
Another forecast from Cowen relates to Bitcoin’s market dominance. He believes that Bitcoin dominance could reach around 60% by the end of the year. However, he also notes that this rise could reverse by 2025.
Cowen suggests that the ETH/BTC pair might find a bottom between 0.03 and 0.04 within this quarter. At the time of writing, Ethereum is trading at approximately 0.03891 BTC (around $2,617). Nevertheless, he adds that there is currently no suitable trading opportunity in the ETH/BTC pair.
Warnings for Traders
Highlighting the uncertainties in the cryptocurrency market dynamics, Cowen advises traders to exercise caution. He stresses that investment strategies should be adjusted according to the ongoing market volatility.
Understanding the relationship between Ethereum and Bitcoin remains crucial for traders aiming to grasp market movements. Cowen’s analyses serve as a guide for those looking to position themselves in the cryptocurrency market. Expert opinions based on analyses can aid traders in formulating their future strategies.
In conclusion, the ETH/BTC pair is expected to find a bottom by year-end. ETH/USD may gain strength by 2025. Additionally, Bitcoin dominance is likely to decrease in 2025.
