HomeEthereumAnalyst Benjamin Cowen Cautions Ethereum Still Struggling, Predicts ETH Price Dependent on...

Analyst Benjamin Cowen Cautions Ethereum Still Struggling, Predicts ETH Price Dependent on Bitcoin’s Performance

-


Analyst Benjamin Cowen Warns of Potential Downside for Ethereum (ETH)

Renowned analyst Benjamin Cowen has issued a warning about the future of Ethereum (ETH), predicting that the popular cryptocurrency may face further downside in the coming months. In a recent video shared with his substantial following of 801,000 YouTube subscribers, Cowen highlighted the potential impact of monetary policy on Ethereum’s performance.

Cowen expressed concerns about the rejection of a spot exchange-traded fund (ETF) and emphasized that tighter monetary policy could have a negative effect on Ethereum. He suggested that if Ethereum were to see an increase in value, it would likely be due to a significant rise in Bitcoin’s price.

Furthermore, Cowen discussed the Ethereum/Bitcoin (ETH/BTC) pair, noting a historical trend of decline in most scenarios. He pointed out that Ethereum’s performance in relation to Bitcoin has been consistently negative, with Ethereum/Bitcoin typically decreasing even when Bitcoin’s price remains stable or increases.

At the time of writing, Ethereum is trading at $3,002, and Cowen’s analysis suggests that the cryptocurrency may continue to face challenges in the near future. Investors and enthusiasts are advised to stay informed and monitor market developments closely to make informed decisions regarding their investments.

LATEST POSTS

5 Stocks with Bitcoin Exposure to Consider During Recent Market Turmoil

Analysis of Bitcoin Market and Top Picks for 2024 The cryptocurrency market took a hit in April after a strong rally in the previous 15...

Bitcoin Blockchain Reaches One Billion Transactions Milestone

Bitcoin Blockchain Reaches One-Billion Transaction Milestone in 15 Years The Bitcoin blockchain has achieved a significant milestone by reaching one billion transactions after 15 years...

The SEC Continues to Sue Crypto Companies

SEC Sends Wells Notice to Robinhood for Alleged Securities Violations Robinhood, the popular fintech firm known for its commission-free trading platform, is now facing legal...

Grayscale withdraws its Ethereum futures ETF application

Grayscale Withdraws Ethereum Futures ETF Application Amid SEC Delays Grayscale Withdraws Ethereum Futures ETF Application Amid SEC Delays Grayscale, a prominent crypto asset manager, has decided...

Most Popular