A Massive Crash for Ethereum Could Be Imminent, Says Analyst
A well-known crypto analyst, Benjamin Cowen, has warned that Ethereum (ETH) may experience a significant crash in the near future. Cowen, who has a substantial following on YouTube, predicts that ETH could plummet to the $400-$800 range. He suggests that this potential drop could occur gradually, with occasional pumps to the upside to deceive investors, before ultimately reaching his downside targets.
Cowen believes that if this scenario were to unfold, both bullish and bearish traders would suffer losses throughout 2023. He expects Ethereum to achieve lower highs and lower lows for the remainder of the year. At the time of writing, ETH is trading at $1,609, representing a 1.2% decrease in the last 24 hours.
Hot Take: Analyst Warns of a Possible Ethereum Crash
Renowned crypto analyst Benjamin Cowen has stirred concerns within the Ethereum community by suggesting that the leading smart contract platform may be on the verge of a massive crash. Cowen predicts that ETH could plummet to the $400-$800 range, causing significant losses for both bullish and bearish traders. He also anticipates Ethereum to experience lower highs and lower lows throughout 2023. These predictions have raised alarm among investors, as ETH is currently trading at $1,609. Traders will undoubtedly be closely monitoring the market to see if Cowen’s predictions come to fruition, while also considering potential strategies to mitigate any potential losses.
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