Ethereum Could Strengthen by 50% Against Bitcoin

Ethereum Could Strengthen by 50% Against Bitcoin

Although Ethereum, the second-largest cryptocurrency by market capitalization, is trading above $3,000, it has yet to surpass the significant psychological barrier of $4,000. The bulls seem to lack the strength for further rally acceleration. However, technical indicators suggest a return to a growth phase, potentially resulting in ETH strengthening against Bitcoin by approximately 50%.

Analysts believe that Ethereum’s performance against BTC could mirror the trajectory seen in April 2021, when the altcoin demonstrated an impressive 140% growth relative to Bitcoin. In the current scenario, expectations are more modest, with an anticipated increase of around 50%.

In the near term, the ETH/BTC pair is expected to consolidate. However, analysts predict a potential first phase of growth following the April halving, with Ethereum potentially rising about 20% against Bitcoin, reaching around 0.062 BTC. A more substantial rally could occur in July, especially if Bloomberg’s forecast regarding the launch of spot ETFs based on Ethereum proves accurate. The influx of institutional investments through such exchange-traded funds is expected to create additional demand for the second-largest cryptocurrency.

In the context of the USA, the introduction of these ETFs could significantly influence the market, attracting American institutional investors and potentially driving further growth and stability in Ethereum’s value.

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