- Founders of blockchain data analysis platform Glassnode predict a rise in Ether.
- The prediction suggests that Ether is poised to break its ongoing downward trend against Bitcoin.
- Analysts anticipate a short-term decline in the ETH/BTC pair, followed by an upward surge, indicating that Ether could outperform Bitcoin in the medium term.
Jan Happel and Yann Allemann, founders of Glassnode, predict an imminent rise in Ether’s value against Bitcoin, following a short-term decline. They suggest that this could lead to Ether outperforming Bitcoin in the medium term.
Ether Set to Break Downward Trend Against Bitcoin
Jan Happel and Yann Allemann, who co-founded Glassnode, a blockchain data analysis platform, have hinted at a potential rise in Ether’s value. They suggest that Ether, which has been on a downward trend against Bitcoin for several months, is ready to break this trend. This prediction was made on their Twitter account, Negentropic.
Short-term Decline, Long-term Gain
The analysts predict a short-term decline in the ETH/BTC pair, followed by a significant upward surge. They believe that this could lead to Ether outperforming Bitcoin in the medium term. They liken Ether to a ticking time bomb, suggesting that while it may show weakness in the short term, it presents a golden opportunity in the medium term. They suggest that it may be time to transition from Bitcoin to altcoins, based on the ETH/BTC trading pair. While Bitcoin may shine briefly, they believe that Ether is preparing for a spectacular run.
Testing Support Levels
The analysts expect the pair to test the support around 0.06 BTC before rising towards 0.07 BTC. As of 12.15 local time, the ETH/BTC pair is at 0.063.
Conclusion
In conclusion, the founders of Glassnode predict a potential rise in Ether’s value against Bitcoin. Despite a short-term decline, they anticipate a significant upward surge in the medium term. This could see Ether outperforming Bitcoin and presenting a golden opportunity for investors.
