As reported here, the price of Ethereum (ETH) could fall by as much as 50% in September. First published on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Ethereum (ETH) price movement versus Bitcoin (BTC) and the US dollar is being predicted by one of the most watched crypto analysts and traders out there.
Credible, a Twitter-based analyst, has 338,00 followers and recently predicted that the flagship currency will see bullish momentum in the next days, making it the market leader in the cryptocurrency space.
Then he goes on to predict that Ethereum will soon start moving in the same direction as Bitcoin.
The analyst predicts that Bitcoin’s price would go below $19,000 before recovering to around $23,400, as shown in the accompanying chart. Bitcoin’s value has increased by 1.45% during the past day, to $20,283.
Credible, on the other hand, claims that although Bitcoin is expected to rise, Ethereum will fall.
The expert indicates that the ETH/BTC pair will fall in value at the same time that Bitcoin prints a higher low.
The Ethereum/Bitcoin Exchange Rate Will Fall by 50 Percent
The aforementioned chart also shows that as Bitcoin begins its upward march in September, the price of Ethereum will fall to around $1,200. The strategist predicts a drop of more than 50% for the Ethereum/Bitcoin (ETH/BTC) pair.
However, the analyst maintains that the impending upgrade to the Ethereum network has nothing to do with his prediction against the cryptocurrency.
His positive stance on Bitcoin and his firm belief that it will eventually lead the whole cryptocurrency market seem to contradict his claim that this forecast applies only to the ETH/BTC combination.
Ethereum prices have increased by 3.72% in the last day, to a current level of $1,539.