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 loading="lazy" 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

Table of Contents

COINTURK NEWS

Other articles published on Jun 16, 2023

Join our free newsletter for daily crypto updates!