Analyst Michaël van de Poppe notes the growth of the ETH rate against bitcoin
A rally of altcoins in the Ethereum ecosystem is expected due to the rising rate
25.12.2024 - 08:40
36
2 min
0
What’s new? Crypto analyst Michaël van de Poppe predicts the ETH/BTC exchange rate will rise above 0,04 in January 2025. According to TradingView, the exchange rate ratio of the major cryptocurrencies is currently at 0,03565, having previously reached 0,04 on December 8, when ETH was trading at $4018.
What else is known? According to the analyst’s prediction, Ethereum will see an increase in fund inflows in January 2025, while bitcoin may face an outflow of funds, causing its price to consolidate in a narrow range. Van de Poppe expects this to kick-start the rise of altcoins in the Ethereum ecosystem.
Nate Geraci, the president of investment advisory firm ETF Store, said earlier that net inflows into Ethereum-based spot exchange-traded funds (ETFs) are on par with gold ETFs, and capital inflows into the former type of investment products will accelerate.
Back on December 4, Into The Cryptoverse founder Benjamin Cowen wrote that the collapse of ETH against BTC is nearing an end, and the exchange rate ratio of the major cryptocurrencies will rise over the next 6-12 months.
At the time of writing, bitcoin is trading at $98 020, up 4% over the day, while ETH is trading at $3486, up 2,5% over the day.
Useful material?
Market
Digital assets have made it easier to conduct transactions in the face of sanctions
Dec 25, 2024
Mining
The restrictions are designed to maintain the balance of energy consumption, taking into account the demands of the industry
Dec 24, 2024
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024