Benjamin Cowen Predicts Ethereum’s Downward Trend Against Bitcoin Before Bullish Phase
Cryptocurrency analyst Benjamin Cowen, renowned for his accurate predictions, anticipates a bearish trajectory for Ethereum (ETH) compared to Bitcoin (BTC) in the foreseeable future.
Ethereum’s Potential Fall Against Bitcoin:
- Cowen foresees further decline for the Ethereum/Bitcoin (ETH/BTC) pair
- He suggests that Ethereum may continue to underperform against Bitcoin as BTC dominance increases
- ETH/BTC currently trades at 0.04869000 BTC ($3,070)
- Cowen predicts a potential 38% drop for the ETH/BTC pair from its current price
Bottoming Out and Monetary Policy Influence:
- Cowen estimates that the ETH/BTC pair might reach its bottom in June, or potentially later
- He emphasizes that the timing could be influenced by the Federal Reserve’s monetary policy decisions
- Changes in the Fed’s policies could impact the duration of Ethereum’s decline against Bitcoin
Future Outlook:
- Cowen suggests that a turnaround for Ethereum relative to Bitcoin might occur later this year or early next year
- He anticipates a bullish phase for ETH/BTC once the Federal Reserve implements supportive measures
- However, Cowen believes that Ethereum is not yet ready for a significant rebound against Bitcoin
Hot Take: Benjamin Cowen’s Ethereum Analysis
Stay informed about the crypto market dynamics with Cowen’s insights on Ethereum’s performance relative to Bitcoin. Understanding potential price movements and market trends is crucial for making informed investment decisions.
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