Ethereum Stands at a Crossroads, Warns Analyst Benjamin Cowen: Unraveling the Implications
Renowned crypto strategist Benjamin Cowen warns of an impending crucial juncture for Ethereum (ETH) against Bitcoin (BTC).
Speaking to his audience of 788,000 on YouTube, Cowen predicts a “decision time” for the ETH/BTC ratio, possibly in the upcoming weeks. Currently at 0.05498 BTC ($2,049), Cowen asserts his base view that Ethereum’s Bitcoin valuation is poised to decline to 0.03 BTC to 0.04 BTC. Despite the descending wedge pattern, Cowen emphasizes a likelihood of a downside break. Citing the rise in Bitcoin dominance and the altcoin market bleeding back to Bitcoin.
He underscores the significance of the next few weeks, identifying a potential window of weakness for the ETH/Bitcoin pair. Urging vigilance as Ethereum navigates a critical phase against its counterpart.
Clever Robot News Desk 28th November 2023