I have said for years that the bottom for #ETH / #BTC would be between 0.03-0.04. ETH / BTC just went to 0.03833 Timing the exact bottom is a fools' errand. I think that ETH / BTC will carve out a strong support level between now and EOY. If 0.038 fails to hold as support, 0.036 could provide support as it is also the 2016 high. Again, I don't know where the exact low is. Worst-case scenario in my view is 0.03, but I would be surprised if it actually went that low. So that there is no ambiguity, I think ETH / BTC will go up in 2025 and squabbling over whether the low is 0.03, 0.036, or 0.038 will seem irrelevant. Last cycle, ETH/BTC bottomed when QE began which could still be a ways off. But a counterpoint is that in 2016 and 2019 when ETH/BTC broke down, it only took 7-8 weeks to bottom, and we are currently on week 8. Be open-minded and flexible to short-term moves, but I think the bulk of the downtrend is over. Please remember that ETH / BTC is not the same as ETH / USD. In both 2016 and 2019 when ETH/BTC broke down, ETH/USD went down in Q4, even though in 2019 ETH/BTC bottomed in September.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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