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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-faces-potential-downturn-analyst-warns/" data-wpel-link="internal">Ethereum Faces Potential Downturn, Analyst Warns</a><br></p>
<p style="text-align: justify">The king of altcoins, <strong><a href="https://coin-turk.com/ftx-kurucusu-acikladi-kripto-para-ekosistemini-hangi-coin-donguleri-belirliyor" data-wpel-link="internal">Ethereum</a></strong>, saw its price exceed $4,000 last month but failed to maintain this level. This was followed by a sharp decline, with the price falling to unexpected levels. A concerning comment has emerged from renowned crypto analyst Benjamin Cowen, who believes <a href="https://en.coin-turk.com/exciting-developments-in-the-world-of-cryptocurrencies/" data-wpel-link="internal">Ethereum</a> is in the midst of a recovery process.</p> 
<h2 style="text-align: justify" id="analyst-s-comments-on-ethereum">Analyst’s Comments on Ethereum</h2> 
<p style="text-align: justify">Renowned crypto analyst <strong>Benjamin Cowen</strong> has warned that Ethereum could witness a significant crash similar to that of 2019. In a new video, Cowen pointed out that the current situation of Ethereum resembles that of mid-2019 and suggested that the king of altcoins might experience a notable pullback.</p> 
<p style="text-align: justify">Cowen also noted that the drop in interest rates in 2019 coincided with a price correction in <a href="https://en.coin-turk.com/ethereum-shows-signs-of-weakness-as-price-drops-to-1650/" data-wpel-link="internal">ETH</a>. With the Federal Reserve possibly lowering interest rates again later this year, the analyst hints that a scenario similar to the past could unfold.</p> 
<blockquote> 
 <p>We will see how Ethereum plays out here, whether it continues to mimic a larger version of its 2019 pattern, does something completely different… Many people don’t like my comparison to 2019 because it went up, it lasted much longer, but still, ETH/<a href="https://coin-turk.com/bloomberg-bitcoin-kuresel-belirsizlik-esnasinda-daha-cekici" data-wpel-link="internal">BTC</a> kept falling and the Fed hasn’t turned around yet, so why assume it won’t follow the same path? Nothing has changed, right? It’s still losing against <a href="https://coin-turk.com/isvec-yenilenebilir-enerjiyle-bitcoin-madenciliginde-oncu-bir-rol-ustleniyor" data-wpel-link="internal">Bitcoin</a>, the Fed hasn’t cut rates yet, and the peak of the last cycle was the turning point for it.</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-336019" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-eth-coin-turk-com.jpg" alt="" width="689" height="443"></p> 
<h2 style="text-align: justify" id="what-s-the-current-price-of-ethereum">What’s the Current Price of Ethereum?</h2> 
<p style="text-align: justify">Cowen mentioned that if Ethereum repeats its 2019 correction, it could enter a few months of stagnation before the Federal Reserve starts quantitative easing (QE) and the crypto markets potentially rebound towards the end of 2024.</p> 
<blockquote> 
 <p>If you’re struggling with this – a six to nine-month market stagnation – the fascinating thing is, what happens if you adjust everything by about three-quarters? After a quarter period, QE (quantitative easing) comes back towards the end of the year and a new bull market starts – maybe that’s what happens.</p> 
</blockquote> 
<p style="text-align: justify">At the time this article was written, Ethereum continues to trade at $3,432 after a 5% drop within the day.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-faces-potential-downturn-analyst-warns/" data-wpel-link="internal">Ethereum Faces Potential Downturn, Analyst Warns</a></h5>

Ethereum Faces Potential Downturn, Analyst Warns

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