Analyst’s Forecast
Crypto analyst Benjamin Cowen believes Ethereum (ETH) has yet to hit its lowest point against Bitcoin (BTC). He draws parallels to the market in 2019, when a bounce in the ETH/BTC ratio preceded a rate cut by the Federal Reserve (FED).
Cowen predicts that the ETH/BTC ratio will bottom out when the FED changes its monetary policy, known as a “pivot.” He expects this to happen in the coming months.
Macroeconomic Factors
Cowen emphasizes that macroeconomic conditions and FED policies can significantly impact the cryptocurrency market. He projects that the ETH/BTC ratio will reach a range of 0.03 to 0.04 by summer.
Skepticism and Response
Some community members question whether the FED will cut rates while inflation remains high. Cowen believes this reinforces his view that the ETH/BTC ratio has not yet bottomed.
Ethereum as a Higher-Risk Asset
Cowen classifies Ethereum as a higher-risk asset compared to Bitcoin. He suggests that higher-risk assets tend to depreciate against lower-risk assets.
Halving Event and Prediction
Cowen predicts that if ETH/BTC experiences a “relief rebound” after the upcoming halving event, it will likely face resistance at the $0.053 to $0.054 range.
Cautionary Note
Cowen acknowledges that his predictions are speculative and subject to change.
