Crypto analyst Benjamin Cowen thinks Ethereum (ETH) might finally reach its lowest price point in December of this year. He’s basing this prediction on a few factors.
Unemployment and Crypto Trends
Cowen points out that the US unemployment rate usually peaks in December. He believes this trend could also affect the crypto market, leading to a bottom in ETH’s price.
He also noticed that Ethereum touched its logarithmic trend line in December of both 2016 and 2019. This pattern, combined with the potential for a December unemployment peak, makes him think a similar scenario could play out this year.
A Potential 50% Drop
Cowen predicts that Ethereum could drop to a bottom price of $1,200. This represents a significant decline of almost 50% from its current price.
Important Note: This is Just a Prediction
It’s important to remember that this is just one analyst’s opinion. The crypto market is volatile and unpredictable, and no one can say for sure what will happen.
