A New Era for Ethereum: Analyst Predicts ETH to Shine After Bitcoin Dominance
A well-respected analyst who accurately foresaw the focus of the crypto bull market shifting towards Bitcoin (BTC) now believes that it’s Ethereum’s (ETH) time to shine.
Historical Patterns and Predictions
In November 2024, analyst Benjamin Cowen made a bold prediction that Ethereum would “come home” by reverting to its logarithmic growth trendline based on historical data. Fast forward to April of this year, when Ethereum dipped to around $1,550, prompting Cowen to declare that ETH had indeed come home.
Capital Rotation Towards Ethereum
Now, Cowen suggests that Ethereum’s upcoming rallies will be fueled in part by capital rotation from altcoins to ETH. He emphasizes the importance of considering how altcoins perform against Ethereum in the current market scenario.
Cowen’s advice is clear: when altcoins underperform compared to Bitcoin, prioritize holding BTC. However, when altcoins falter in comparison to Ethereum, it’s wise to lean towards ETH over altcoins.
Potential for New All-Time Highs
The analyst is optimistic about Ethereum’s prospects, suggesting that once it surpasses a key resistance level that has kept the market bearish since December 2021, ETH could potentially reach new all-time highs.
As of the latest update, Ethereum is valued at $3,725, indicating a positive trajectory for the cryptocurrency.
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