Bitcoin's Crash Drags Ethereum to 2019 Levels, Market Uncertain

Generated by AI AgentCoin World
Wednesday, Apr 9, 2025 7:08 am ET1min read
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The Bitcoin price has been leading 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 2019. As the market faces uncertainty, the question on everyone’s lips is, where is the Bitcoin price headed from here?

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.”

While the market is down now, the 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.”

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.