In their latest YouTube installment, the Altcoin Daily crew engaged in a thought-provoking conversation with quantitative analyst Benjamin Cowen, delving into the optimal timing for purchasing altcoins, focusing on Ethereum (ETH). The esteemed analyst commenced his analysis by scrutinizing the ETH/BTC chart.
Upon analyzing the chart, Cowen astutely observes that ETH has consistently recorded lower highs. However, he remains optimistic about its potential to surge ahead of bitcoin. Cowen predicts that this shift in dominance may occur in 2021 or even as far out as 2025, following another dip in ETH’s market share. His professional analysis suggests that patience and strategic planning will be key in navigating the volatile crypto landscape.
According to Cowen, the optimal moment to purchase altcoin is when the ETH/BTC dominance falls within the range of 0.03 to 0.04 BTC. He further emphasized that he, too, will exercise patience until the price reaches this threshold before taking action.
According to the latest figures from CoinMarketCap, the current trading price of ETH stands at $1,818.97, reflecting a slight 0.33% dip in value over the past 24 hours. During this period, the altcoin demonstrated a trading range of $1,282.54 to $1,811.12, showcasing its volatility in the market.
Although there has been a slight dip in the crypto market since yesterday, the altcoin has managed to maintain a positive trajectory, with a growth of over 3% in the past week. However, it is worth noting that ETH’s 24-hour trading volume has experienced a decline of more than 37%, currently standing at $5,301,182,631. Despite this, the market remains stable and poised for potential growth shortly.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
