Will Ethereum’s Price Fall Below $800?
Crypto analyst Benjamin Cowen believes that Ethereum’s price may experience a decline, potentially dropping below $800. While the decrease may not be significant, Cowen suggests that Ethereum could reach price points as low as $600, $500, or even $400. Cowen predicts that Ethereum’s price trajectory could involve periods of gradual decline interspersed with occasional price spikes. This pattern could persist until the end of the pre-halving year, leaving both bullish and bearish investors uncertain about their predictions and facing financial setbacks.
Cardano’s Potential Price Decline
Turning his attention to Cardano (ADA), Cowen warns that the cryptocurrency might enter a “depression” phase, causing a substantial decrease in its price. Drawing comparisons to the Nasdaq’s 50% drop, Cowen calculates that Cardano’s price could fall below $0.20 from its then-level of $0.37. He also mentions the possibility of a 27% drop from a lower base, resulting in a price of around $0.16, which Cardano last saw in August 2020. Cowen highlights other significant price levels, such as $0.11 (its 2019 high) and the pre-pandemic high of around $0.07 or $0.08.
Cardano’s Unpredictable Price Movement
Cowen emphasizes the unpredictability of Cardano’s price if it enters a depression phase. He foresees consecutive weeks of price decline with short-lived recoveries that may entice investors to take greater risks. Cowen advises caution, stating that Cardano’s price could temporarily rise again, leading investors to make impulsive decisions. He underscores the overall high risk associated with Cardano and urges investors to remain vigilant.
Hot Take: Benjamin Cowen’s Price Predictions for Ethereum and Cardano
In his recent videos, crypto analyst Benjamin Cowen shared his insights on the potential price movements of Ethereum and Cardano. Cowen suggests that Ethereum could experience a decline, possibly dropping below $800 and reaching price points as low as $600, $500, or $400. He also warns that Cardano might enter a depression phase, causing its price to decrease significantly, potentially falling below $0.20. Cowen emphasizes the unpredictability of Cardano’s price during this phase and advises investors to remain cautious. These predictions highlight the challenges and uncertainties faced by cryptocurrency investors in the current market.
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