Compared to Bitcoin, a prominent cryptocurrency trader and analyst favors Ethereum.
At a recent strategy meeting, altcoin analyst Sherpa mentioned that the currency remains stable against ETH/BTC.
$ETH: ETHBTC still holding strong. I still think it’s a good time to buy before ETF—Is it priced in? Probably. But ETH almost guarantees ATH by year-end
pic.twitter.com/J6c14zeKLU
-Altcoin Sherpa (@AltcoinSherpa)
July 3, 2024
He noted ETH/BTC is in a favorable position for bullish opportunities, particularly if the U.S. Securities and Exchange Commission (SEC) approves an Ethereum retail spot ETF.
Regarding Bitcoin, experts noted its price fluctuates between $73,000 and $56,000, despite short-term bearish outlooks. He also mentioned altcoins’ bull market phase could commence in approximately three months.
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High timeframes
$BTC
Honestly, the chart still lacks true clarity. The 200-day EMA around the range low points is attractive, but the price-EMA gap seems insufficient for automatic bidding, in my view.
Price remains within the overall HTF range of 73-56k, but short term OFC appears bearish
pic.twitter.com/kTyUdNh1Nh
-Altcoin Sherpa (@AltcoinSherpa)
July 3, 2024
Sherpa believes that despite current altcoin sell-offs, a recovery may occur by year-end, especially if Bitcoin stabilizes.
