Analysts Predict Ethereum to Surge 180 Against Bitcoin

Compared to Bitcoin, a renowned cryptocurrency trader and analyst is bullish on Ethereum. In a recent strategy meeting, altcoin analyst Sherpa mentioned that the currency pair ETH/BTC remains stable. “ETH: ETHBTC is still strong. I still think it’s a good time to buy before the ETF—has it been priced in? Probably. But ETH is almost guaranteed to hit all-time highs before the end of the year,” -Altcoin Sherpa (@AltcoinSherpa) July 3, 2024. He pointed out that the ETH/BTC currency pair is in a favorable position for a long opportunity, especially with the potential approval of an Ethereum retail spot fund (ETF) by the U.S. Securities and Exchange Commission (SEC). As for Bitcoin, the expert stated that its price fluctuates between $73,000 and $56,000, despite being short-term bearish. He also mentioned that the bull market phase for altcoins might begin in about three months. Read more:

Grayscale’s Solana Trust trades at a 650% premium. High Time Frame (HTF) $BTC: Honestly, the chart still lacks real clarity. The 200-day EMA around the range’s low point is attractive, but in my view, the gap between the price and the EMA is not enough to bid automatically. The price remains within the overall HTF range of 73-56k, but short-term OFC looks bearish -Altcoin Sherpa (@AltcoinSherpa) July 3, 2024. Sherpa believes that although altcoins are currently selling off, a recovery might occur by the end of the year, especially if Bitcoin stabilizes.