The crypto analyst Benjamin Cowen is warning that Ethereum (ETH) could see a collapse in value due to rate cuts by the Federal Reserve. Cowen believes that ETH may repeat a 2019 pattern and drop to around $1,000, the lower bound of the logarithmic regression band. He explains that the regression band is designed to track the fair value of an asset using non-bubble data. Cowen also suggests that ETH against Bitcoin (ETH/BTC) may have already hit bottom, while ETH/USD could still have further to fall. He believes that despite ETH/USD's decline, ETH/BTC could find a bottom soon and potentially start rising in 2025. Currently, ETH/BTC is trading at 0.03905 BTC ($2,618), down 1.74% in the last 24 hours.
- Content Editor ( dailyhodl.com )
- 2024-10-22
Ethereum Could Be Heading for Massive Capitulation As Fed Rate Cut Cycle Rocks ETH: Benjamin Cowen