Crypto analyst Benjamin Cowen is predicting a rough patch for Solana (SOL) holders, drawing parallels to Ethereum’s (ETH) past performance. He believes SOL’s price against Bitcoin (SOL/BTC) is following a similar pattern to ETH/BTC years ago.
Solana’s Price Pattern: A Repeat of Ethereum’s History?
Cowen, in a recent YouTube interview, highlighted a striking resemblance between the price charts of SOL/BTC and ETH/BTC. He described the ETH/BTC chart’s historical pattern: a massive 90% drop, followed by a 500% rally, then a series of lower highs and lows, a final rally, and ultimately a prolonged decline. He claims SOL/BTC is currently mirroring this same pattern.
Don’t Panic, But Prepare for a Potential Downturn
While Cowen acknowledges the potential for a significant Solana price drop, he cautions against panic selling. He suggests that SOL/BTC could potentially rebound, similar to ETH/BTC’s recovery. However, he also points out that even after a recovery, a lengthy downtrend could follow. He illustrated a scenario where SOL could bounce back in 2025, only to decline again in 2026.
Current Market Conditions
At the time of the analysis, SOL/BTC was trading at $0.0021 BTC ($216), while ETH/BTC was valued at $0.038 BTC ($3,921).
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions./p>
