Ethereum

Hope

Bitcoin

<p style="text-align: justify;">Renowned cryptocurrency analyst Benjamin Cowen has issued a warning about a potential crash in Ethereum (ETH), the largest altcoin by market capitalization, compared to <a href="https://en.coin-turk.com/cryptocurrency-market-update-the-latest-on-bitcoin-xrp-and-litecoin/" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/bitcoin-faces-downfall-despite-feds-pause-on-interest-hikes-whats-next/" rel="noopener noreferrer nofollow">BTC</a>). This warning comes as the altcoin market continues to show signs of weakness.</p><h2 style="text-align: justify;" id="a-45-drop-forecast-for-eth-btc">A 45% Drop Forecast for ETH/BTC</h2><p style="text-align: justify;">Benjamin Cowen, known for his accurate crypto predictions, stated in a new strategy session that the ETH/BTC trading pair, currently valued at 0.066 BTC, could drop by more than 45%, plummeting to a level of around $1,650.</p><blockquote><p style="text-align: justify;">According to Cowen, after a significant pullback, the ETH/BTC trading pair could trigger a recovery rally later this year: “All we’ve seen in the Ethereum/Bitcoin valuation, at least in the short term, is multiple lower peaks. Now, I’ll remind you over a longer period, we’ve seen a series of higher lows, but since 2017, we’ve also had lower peaks. Therefore, there is an element here that maybe it’s time to consider that a bullish trend is more likely somewhere below (at the 0.036 BTC level). And perhaps we can start speculating about a recovery of some sort here.”</p></blockquote><p><a href="https://en.coin-turk.com/crypto-analyst-warns-of-potential-ethereum-crash-as-altcoin-market-shows-weakness/eth-btc/" rel="noopener noreferrer nofollow"><img class="size-full wp-image-84894 aligncenter" src="https://en.coin-turk.com/wp-content/uploads/2023/06/eth-btc.png" alt="" width="674" height="396"></a></p><h2 style="text-align: justify;" id="write-off-your-hope-from-eth-btc-in-the-short-term">“Write Off Your Hope from ETH/BTC in the Short Term”</h2><blockquote><p style="text-align: justify;">Cowen also doesn’t expect any rally for the ETH/BTC trade until it completes its correction move. The analyst elaborated on this expectation saying: “Whether you want to claim that the Ethereum/Bitcoin pair is an oscillator and it needs to drop to the 0.019 BTC level, or it will eventually come back somehow, I think this part is going to be a necessary component. No matter what, it just seems like in the short term it has to go down before we can understand the ultimate trajectory of the Ethereum/Bitcoin pair.”</p></blockquote><p>The post <a rel="noopener noreferrer nofollow" href="https://en.coin-turk.com/crypto-analyst-warns-of-potential-ethereum-crash-as-altcoin-market-shows-weakness/">Crypto Analyst Warns of Potential Ethereum Crash as Altcoin Market Shows Weakness</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coin-turk.com">COINTURK NEWS</a>.</p>

Crypto Analyst Warns of Potential Ethereum Crash as Altcoin Market Shows Weakness

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