Ethereum Analyst Benjamin Cowen Cautions about Ongoing Challenges, Emphasizes ETH’s Dependence on Bitcoin for Future Growth
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Ethereum Analyst Benjamin Cowen Cautions about Ongoing Challenges, Emphasizes ETH’s Dependence on Bitcoin for Future Growth

Prominent analyst Benjamin Cowen is warning that Ethereum (ETH) could potentially face a downward trend in the coming months. In a recent video, Cowen, who has a substantial following of 801,000 subscribers on YouTube, highlights the potential negative impact of monetary policy on Ethereum. He suggests that the rejection of the spot exchange-traded fund (ETF) could contribute to this decline. However, Cowen believes that the main factor affecting Ethereum’s performance would be Bitcoin’s performance. He suggests that if Ethereum were to experience an increase, it would be due to Bitcoin’s significant rise in value. Cowen also predicts that the Ethereum/Bitcoin (ETH/BTC) pair is likely to continue its downward trajectory based on historical data. He explains that regardless of whether Bitcoin’s value goes up, down, or remains stable, Ethereum’s value in relation to Bitcoin tends to decrease. At the time of writing, ETH is trading at $3,002. As always, investors are encouraged to conduct thorough research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this article is published, does not offer investment advice and is not an investment advisor.

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