A widely following crypto -analyst says that Ethereum (ETH) looks attractive against bitcoins (BTC) at its current price.
At the new strategic session, Crypto -Tsorgovets Benjamin Cowen tells his 968 400 subscribers on the Social Networks platform X, who, combined with BTC (ETH/BTC), may be attractive and may be a catalyst that causes the next Altcoin season.
“I generally agree that ETH/BTC V <0.03 seems attractive, I want to say that until it actually begins to a tendency to appear, then the Alt season will not be detained.”
ETH/BTC is estimated at 0.02806 BTC ($ 2738) while writing, which is 1.3% per day.
According to Cowen, Altseason will not begin until there is no ETH/BTC in Don, noting that merchants should monitor the dominance of the crypto -crop, as well as the altcoins season, as a rule, begin with high BTC dominance levels.
“While ETH/BTC is reduced, then Altseason is postponed. Many people suggest that BTC dominance comes out above, is a negative thing for crypto, when it is actually positive. Alt season comes from high levels of dominance of bitcoins, rather than low levels of bitcoins dominance.
Typically, the dominance of bitcoins is really reduced during the years after burning, so my assumption is that the dominance ends in red at the moment, but so far the domination has grown this year. ”
Cowen completes his analysis, saying that although Eth/BTC may fall even further, it is already next to the minimums of the range.
“This may be lower, but I really have no good reason to put a post about ETH/BTC, given how close it is to the minimum of the range.”
Generated image: midjourney
