One of the closely observed crypto analysts and traders is out there predicting crypto rally for especially Ethereum (ETH) price movement against Bitcoin (BTC) and US dollar.
The analyst who is pseudonymously known as Credible informs his 338,00 fanbase over Twitter that the flagship currency is about to have a bullish momentum in the days to come which will lead the crypto market.
He then says that Ethereum will also follow Bitcoin’s positive movement in the near future.
According to the chart depicted by the analyst, he forecasts Bitcoin to plunge below $19,000 before the currency rallies towards $23,400. Currently, Bitcoin is valued at $20,283 up by 1.45% in the last 24hrs.
However, Credible claims that while there is a bullish prediction towards Bitcoin, Ethereum will witness an opposite trend.
By this, the analyst means that as the time when BTC prints a higher low, ETH will see a lower low and this will push ETH/BTC down
ETH/BTC To Drop 50%
The above-mentioned chart also reveals that the Ethereum price will drop near $1,200 as Bitcoin begins its upward movement in the month of September. While pointing towards Ethereum opposite to Bitcoin (ETH/BTC), the strategist believes that the pair will plunge by more than 50%.
On the other hand, the strategist claims that his prediction against Ethereum is not connected with the network’s upcoming upgrade.
As he claims that this prediction is just for the ETH/BTC pair and his bullish approach towards BTC and his belief towards Bitcoin leading the whole of the crypto market.
At the moment, Ethereum is selling at $1,539 after a surge of 3.72% over the last 24hrs.
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Source: https://coinpedia.org/ethereum/ethereum-eth-price-at-risk-of-dropping-50-in-september-here-are-the-low-levels-to-watch/