FxPro Analyst: The ETH/BTC exchange rate may drop to the range of 0.02-0.03

2024-09-16 23:00:57

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ChainCatcher news, according to CoinDesk, FxPro senior analyst Alex Kuptsikevich stated, "In the long term, the activity of Ethereum developers, whether on the blockchain itself or in its increasingly expanding ecosystem, is the reason for the rise of ETH. However, by the end of 2023, this trend has shifted to Bitcoin, as the prospects for exchange-traded funds (ETFs) have become more prominent.

It is worth noting that the launch of the Ethereum ETF has not attracted the same buying interest as the Bitcoin ETF, but rather led to net outflows, and has not reversed the downward trend of the ETH/BTC exchange rate.

The ETH/BTC exchange rate could further drop into the 0.02-0.03 range. Considering the overall positive sentiment towards altcoins in the months following the Bitcoin halving, as well as the higher beta coefficient of altcoins compared to U.S. stocks, this situation is surprising, especially as U.S. stocks have performed quite strongly in recent months."

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