Analysts are regularly providing their latest predictions on the Ethereum (ETH) market. Not long ago, Benjamin Cowen unleashed his latest take as Bitcoin (BTC) entered the $30,000 level. Cowen suggested that although the cryptocurrency could experience a “brutal” recovery, a sustained rise to new highs will not occur until market conditions are suitable for the Federal Reserve to utilize the quantitive easing (QE) policy.

Cowen pointed out that during recovery periods, Bitcoin usually edges out altcoins and the latter could drop faster than the former should BTC experience a downward trend. According to the crypto analyst, the supremacy of Bitcoin is becoming increasingly visible. Cowen’s statement is confirmed by Ethereum’s current status, with its value being 0.3% higher in the past 24 hours to $1,896.

The Federal Reserve’s move to ease market conditions by lowering interest rates and initiating a QE process is pivotal for the continuation of momentum. This will be achieved if GDP is in a healthy state, as some believe to be the case. Speculating on the recovery timeline for Ethereum, Cowen implied that it could feature a dip before catching a sustainable uptrend.

Altcoin markets can quickly become unstable due to the weakened buying and selling pressure that is driven by investor sentiments. Crypto traders should not be fooled by quick gains, as there is a likelihood that the momentum could die down soon after the short period of growth, which is why careful consideration is encouraged to achieve optimal returns with minimal risk.



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