Uncertainty Rocks Market As ETH/BTC Drops To 6-Year Low, Where Is Bitcoin Headed Next?
The 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 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 .
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 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, . Looking at the ETH/BTC chart, there seems to be no support in sight as the crash continues.
So far, 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 of them to deal with.
Featured image from Dall.E, Chart from TradingView.com
