Twitter analyst Credible, who has previously held various Ripple forecasts, says that the market’s largest smart contract platform Ethereum (ETH) will closely follow Bitcoin (BTC) in the coming months before making a big comeback. The crypto analyst, who has more than 300,000 followers, says he is watching the Ethereum and Bitcoin (ETH/BTC) pair to analyze how the volume giants will behave in the coming months.
According to Credible, Ethereum will follow Bitcoin closely
Kriptokoin.com before it makes a big comeback. You can find price estimates here. In his recent tweets, the analyst predicts that the ETH/BTC pair will lose around 30% of its value in the next two months, implying that Bitcoin will most likely beat Ethereum in the short to medium term. Quoting from the tweet:
BTC fell while ETH/BTC remained stable. We are still waiting for ETH/BTC to cross the red line, but what if the BTC capitulation is not enough? To me, this drop in BTC wasn’t our ‘big’ rise – it was a precursor to it. Herald of our fifth wave.
Credible, according to its chart, shows that ETH/BTC will correct roughly 0.048 BTC ($1.435) by July and a strong recovery by 0.09 BTC by the end of the year. ($2,691) before placing.
Analyst says the fifth wave points to ATH levels
Credible believes that Bitcoin’s fifth wave could push the leading crypto to ATH levels and make Ethereum better than Bitcoin in the coming months. he thinks he is preparing for a final surge that could force him to underperform. Analyst comments on current BTC dominance:
BTC is outperforming in the early stages of our last fifth wave impulse. The altcoin market is stealing the show as BTC peak after that. Dominance takes it to a new level of ATH before it’s all over.
Credible is a well-known proponent of the Elliott Wave theory, a technical analysis technique that predicts future market movement by observing investor behavior in waves. For months, he has predicted that Bitcoin will continue to rise in the fifth wave before a devastating market crash. Earlier, he correctly predicted in June that Bitcoin would surge above $50,000 before correcting steeply.
