Although he is one of those who believe in the future of cryptos and ether (ETH) in particular, Benjamin Cowen is realistic. At the end of November 2022, the analyst predicted a negative outlook for this crypto. Obviously, his opinion has since remained the same.
No further rise for ether (ETH), before a fall of at least 50%
On his YouTube channel, crypto analyst, Benjamin Cowen once spoke about the ether (ETH) market. For him, the crypto is not ready for a new bull cycle. It is even the opposite that should happen, he argues. Cowen explains by saying that usually one of the harbingers of Ether (ETH) bull cycles is when its value takes a complete dip.
However, for some time, it has stagnated. Which, according to him, is very curious, given the current market circumstances.
The other thing, adds the analyst, is that the bear market is far from over. Moreover, he underlines, it could still be strengthened. This, because the risks of a recession on the American economy, affecting the crypto market, are never to be excluded.
Because of these two reasons, Cowen believes ether (ETH) could lose up to 53% of its current value. According to him, it is only from then that a new uptrend could be considered.
Benjamin Cowen’s analysis thus throws a stone into the pond of many users, concerning the behavior of certain assets. Indeed, many consider assets considered to be at risk, sheltered from a bearish cycle due to the passage of a certain time. The analyst calls not to be mistaken, because there is no relationship between the two. “I remind you that there are many assets, even in crypto, that can reach new lows even well after a primary bear market year”, did he declare. This is in particular, the expert recalls, what happened in 2020 when several cryptos hit rock bottom. At the time, ETH was not part of this downward wave. The fact remains that this crypto has clearly approached this trend thereafter.
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