Cryptocurrency analyst Benjamin Cowen believes Ethereum (ETH) will continue to struggle against Bitcoin (BTC) in the short to medium term.
ETH/BTC Pair to Fall Further
Cowen predicts that the ETH/BTC pair could drop up to 38% from its current level, as Bitcoin’s dominance strengthens. At the time of writing, ETH/BTC trades at 0.04869000 BTC ($3,070).
Potential Bottom in June
Cowen suggests that the ETH/BTC pair could bottom out as early as June, but this depends on the Federal Reserve’s monetary policy. If the Fed continues to tighten interest rates, the downturn could extend.
Bullish Phase Ahead
Cowen believes that Ethereum will eventually enter a bullish phase, but not until the Fed eases monetary policy. He predicts that this could happen later this year or early next year.
