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<ul class="news-points">
 <li>Benjamin Cowen shared in a YouTube video that he has been unimpressed by ETH’s performance throughout the past year.</li>
 <li>In 2023, the ETH / BTC valuation has already dropped by 20.56%.</li>
 <li>At press time, ETH was trading at $1,590.78 after its price slipped by more than 2% in the past 24 hours.</li>
</ul>
Cryptocurrency analyst, Benjamin Cowen, shared in one of his latest YouTube <a href="https://www.youtube.com/watch?v=Y50iyDlu0Bg" target="_blank" rel="noopener noreferrer nofollow">videos</a> that he has not been impressed by <a href="https://coinedition.com/tag/ethereum-eth/" rel="noopener noreferrer nofollow">Ethereum’s (ETH)</a> performance this year. In his analysis, Cowen placed particular emphasis on the ETH / Bitcoin (BTC) valuation, as well as the effects that the Merge could have on ETH’s future performance.
The ETH / BTC valuation has been on a downward trend according to the monthly chart, and the analyst believes that his trend is very likely to continue through the end of the year. He based his belief off of what happened in the pre-halving year of 2019.
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><img decoding="async" src="https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3.png" alt="" class="wp-image-341826" style="width: 100%;height:321px" width="764" height="321" srcset="https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3.png 1793w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-300x126.png 300w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-1024x430.png 1024w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-380x160.png 380w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-768x323.png 768w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-1536x645.png 1536w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-159x67.png 159w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-795x334.png 795w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-440x185.png 440w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-414x174.png 414w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-326x137.png 326w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-377x158.png 377w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-123x52.png 123w, https://coinedition.com/wp-content/uploads/2023/10/Eth-1-3-129x54.png 129w" sizes="(max-width: 764px) 100vw, 764px">
 <figcaption class="wp-element-caption">Monthly chart for ETH/BTC (Source: <a href="https://www.tradingview.com/x/uELKTPOq/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
During this period, the ETH / BTC closed below the wick of the previous bear market’s low. In 2019, the ETH / BTC valuation declined by about 49%, and the analyst predicted this could be the case again in 2023. In fact, the ETH / BTC valuation has alr…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/eths-price-could-suffer-if-history-repeats-itself-analyst/">ETH’s Price Could Suffer If History Repeats Itself: Analyst</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

ETH’s Price Could Suffer If History Repeats Itself: Analyst

Coin Edition

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