Warning: Ethereum Crash! Expert Forecasts Drop Below $1,000

According to analyst Benjamin Cowen, the ETH/BTC pair and historical trends point to a possible value decline below $1,000.

Ethereum’s performance is heavily influenced by Bitcoin.

Although Ethereum ETFs may be approved in March, for now it’s best to wait and see whether the price increases.

Warning: Ethereum Crash! Expert Forecasts Drop Below $1,000
Source: Bitcoin.com News
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Well, many people may receive this as negative news! Reputable expert Benjamin Cowen has expressed concern about Ethereum’s prospects in comparison to Bitcoin. Cowen, who is well known for his accurate forecasts, recently posted important information on YouTube that suggested Ethereum’s value would be declining.

Ethereum is now carefully trading at $2,297, having declined by 0.33% over the previous day.

But what will happen next? Continue reading to learn more.

Cowen’s Negative Assessment

The well-known cryptocurrency forecaster Benjamin Cowen recently discussed his opinions on Ethereum (ETH) in a video. According to him, Ethereum’s value may decline significantly—possibly to less than $1,000—before going through a bull market phase.

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Based on historical data, Cowen observes a trend in which Ethereum typically experiences periods of decline, followed by periods of little increase and then down once more. This leads him to believe that Ethereum may still need to crash before things start to improve.

Crucial Sign to Pay Attention to

Cowen stresses the significance of the ETH/BTC combination and cautions that a collapse would cause Ethereum’s USD value to plummet significantly. This association is supported by historical evidence.

Cowen thus believes that Ethereum might drop to levels below $1,000 in the future, particularly if the ETH/BTC combination collapses.

Recognising the Effects of Bitcoin

Cowen emphasises the mutually beneficial link between Ethereum and Bitcoin and says that an increase in Ethereum’s value depends on an increase in Bitcoin first. The mechanics of the Bitcoin market exert a gravitational pull that greatly influences Ethereum’s trajectory.

Recognising that forecasts are inherently unpredictable, Cowen accounts for variables like stories about the Ethereum spot ETF and the halving of Bitcoin. He highlights how complex market dynamics are and how they will affect Ethereum’s future.

Would An ETF Be Beneficial?

Although Cowen advises caution, there is hope that Ethereum’s price would rise if the SEC approves spot Ethereum ETFs. There is more expectation due to BlackRock’s extension and the submission of ETF proposals by other significant participants including VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, and Hashdex. Decisions regarding these proposals are expected by March 10 and deadlines span from May to July.

Cowen’s observations highlight significant concerns over Ethereum’s future direction at this pivotal juncture. Will Ethereum weather this storm or will laws change its course? Everybody is observing and waiting.

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