Ethereum
Analyst Benjamin Cowen Warns Ethereum ‘Still Facing Headwinds,’ Says ETH Will Only Rise If Bitcoin Does
Widely followed analyst Benjamin Cowen claims that Ethereum (ETH) is likely to experience further declines over the coming months.
In a new video, Cowen tell its 801,000 YouTube subscribers that monetary policy is likely to have a negative impact on Ethereum.
“I think ETH/USD still faces headwinds here, particularly following the potential rejection of the spot exchange-traded fund (ETF)…
…I think the impact that people are going to feel is just from tighter monetary policy. They’re going to blame the spot ETF and they’re going to potentially capitulate to that.”
According to Cowen, Ethereum could rise on one condition.
“If ETH increases from here, it would only be due to a much larger increase in Bitcoin.”
The widely followed analyst says the Ethereum/Bitcoin (ETH/BTC) pair, on the other hand, is likely to continue falling under most circumstances, depending on history.
“So if Ethereum rises, Ethereum/Bitcoin will likely continue to fall. If Bitcoin goes off the rails, Ethereum/Bitcoin will continue to fall in my opinion. And if Bitcoin goes down, Ethereum/Bitcoin probably goes down because Bitcoin has been doing all kinds of things since the start of 2022. In eight out of ten quarters, Ethereum/Bitcoin has gone down, whether Bitcoin has gone up, down, or sideways. Ethereum/Bitcoin has generally declined.
ETH is trading at $3,002 at the time of writing.
Don’t miss a beat – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Hodl Daily Blend
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: DALLE3