Uncertainty Rocks Market As ETH/BTC Drops To 6-Year Low, Where Is Bitcoin Headed Next?

Scott Matherson

3 months ago

3 mins read

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The Bitcoin price continues to lead the market and with each crash, it has taken down the altcoin market with it. Amid this, Ethereum has performed especially poorly, returning to prices not seen since seven years ago. As Donald Trump’s tariff situation rocks the market, the question on everyone’s lips is, where is the Bitcoin price headed from here?

Market Experts Chime In On Bitcoin Price

Crypto market sentiment has tanked to levels not seen in years with the Bitcoin crash into the $ 70,000 territory, and according to many, the battle is far from over. One of the experts who have said that the Bitcoin price could stay low during this time is Alex Guts, CEO of Banxe.

According to Guts, the BTC price could continue to trade in a tight $72,000-$84,000 range during this time. Looking over for the long-term, the CEO sees “prospects staying bullish as adoption and policy support grow.”

On the same note, while Trump’s policies and tariff wars have caused the markets to tank, expectations remain that this could be good for the markets in the long term. In an analysis shared with NewsBTC, a Bitunix expert analyst pointed out that what the Trump administration is doing is “igniting a regulatory renaissance for crypto.”

He points out that all of the President’s actions since he took office have shown this, especially with his empowerment of crypto leaders. So, despite the market being down now, Trump’s moves could end up igniting further growth for the market.

The Bitunix analyst warns that investors should not allow the news of the tariff wars to cloud their judgment. He outlines that sometimes it is imperative to implement new things in order to fix what is broken, likening it to ‘taking medicine’.

As for where the Bitcoin price could be headed next from here, the expert analyst told NewsBTC:

“Well, the recent price drop in major cryptocurrencies has worried retail investors, but we believe that Bitcoin could potentially reach $117k after the dust settles.”

The Sad State Of Affairs Of ETH/BTC

Despite being the second-largest cryptocurrency in the world, the Ethereum price has performed poorly, especially in comparison to Bitcoin. Looking at the ETH/BTC chart, there seems to be no support in sight as the crash continues.

So far, Ethereum has fallen to 0.01889 BTC, a level that has not been recorded since 2019. This suggests that Ethereum has completely retraced its gains from the past six years, plunging believers and supporters into deep losses.

For a turnaround for Ethereum, it seems major news would have to come out to propel a recovery. Otherwise, the lack of support suggests that Ethereum holders have more turbulence ahead of them to deal with.

Ethereum/Bitcoin price chart from TradingView.com — ETHBTC drops to 6-year lows | Source: ETHBTC on TradingView.com

Featured image from Dall.E, Chart from TradingView.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

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Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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