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Ethereum Price Prediction: ETH Set to Explode as BTC Loses Steam, Say Top Analysts

Thu, 08/03/2023 - 13:58
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Gamza Khanzadaev
Top analysts unveil explosive Ethereum price analysis as Bitcoin loses momentum
Ethereum Price Prediction: ETH Set to Explode as BTC Loses Steam, Say Top Analysts
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Glassnode co-founders Yann Allemann and Jan Happel have joined forces with esteemed trader Henrik Zeberg to offer a bold prediction for the future of Ethereum (ETH). According to the trio's analysis, ETH is likened to a ticking time bomb, displaying short-term weakness but with the promise of a golden midterm opportunity that traders should not overlook.

Ethereum NFTs Trading Volume Down 90% From Peak, Data Shows

The experts, known for their astute market insights, took to X (formerly known as Twitter) to share their findings. The advice for traders is to consider shifting their focus from Bitcoin (BTC) to altcoins, as the ETH/BTC trading pair signals a favorable time for this transition. While BTC might experience a fleeting shine, the stage appears to be set for Ethereum to embark on a spectacular run.

Source: Negentropic

In light of this prediction, seasoned traders are cautioned against high-beta plays and encouraged to concentrate on building a robust core portfolio, aligning with the upcoming bullish market sentiment.

High beta

For those seeking high-beta options within the Ethereum ecosystem, the analysts have highlighted two intriguing choices – Optimism (OP) and Arbitrum (ARB) tokens.

Optimism (OP) Surprisingly Flips Arbitrum (ARB) in Daily Transactions, But There Is Caveat

These particular crypto assets have showcased notable outperformance during positive market conditions. Interestingly, ARB and OP often find themselves vying for buyers and liquidity, generating a competitive dynamic reminiscent of the end of March when the airdrop of Arbitrum tokens resulted in a 20% dip in the price of OP.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.