You can also read this news on COINTURK NEWS: Benjamin Cowen Predicts Ethereum’s Continued Struggle Against Bitcoin
Renowned analyst Benjamin Cowen suggests that Ethereum (ETH) may continue to lose value against Bitcoin (BTC) . In his recent video update, Cowen noted that the ETH/BTC ratio could decline to a particular level by the end of the year, potentially marking a bottom point in the cycle.
Cowen emphasized that the ETH/BTC pair is nearing its low levels, and current market conditions could lead to this outcome. In the video directed at the investor community, he projected that the ETH/BTC ratio might drop to around 0.017.
Benjamin Cowen: “The ETH/BTC market cap ratio is very close to its bottom. There is a possibility for this ratio to hit the floor.”
The analyst indicated that if the U.S. Federal Reserve’s quantitative tightening policies come to an end, the ETH/BTC pair could experience a sharp decline. This situation could play a critical role in ETH price movements.
Cowen suggested that after any policy changes, signs of market recovery might emerge, but a sustained upward trend would only be possible once the tightening period concludes. His statements reveal that the market may continue to experience volatility.
In June 2022, the Federal Reserve decided to shrink its balance sheet to manage money supply. As of the time of writing, the ETH/BTC ratio stands at 0.0264, reflecting a 3.2% drop in the past 24 hours. These developments provide crucial data for investors closely monitoring market dynamics.
Market data and the impacts of policy changes should be carefully tracked by investors. Analyst insights are considered informative for evaluating price fluctuations, but unexpected changes in market conditions may still occur.
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