A widely followed crypto- analyst says a major crash is on the cards for the leading smart contract platform.
In a recent strategy session, crypto trader Benjamin Cowen gave his 787,000 YouTube subscribers the second-largest crypto asset by market cap. Ethereum He says that a free fall to the $400-800 range is possible for (ETH).
There is a good chance of a lower bottom, and it may not be a much lower bottom, maybe just below $800. It may fall even further. It may drop to $600, $500 or $400, but this is also possible for Ethereum.
Cowen also says that a move towards his downside targets would mark 2023 as the year when both ETH bulls and bears are “devastated enough.”
It could be a movement where it slowly fades away with some upward pumps now and then to get everyone excited and then moves down towards the end of the year and then goes back up again, right?
It might do something like this – it makes a bottom, it makes a top, then it sweeps the top, and then it sweeps the bottom. This way, by the end of the year, both bulls and bears are sufficiently devastated.
NEWS CONTINUES BELOWThen all year long both sides think they are right all year long, but they are actually only right half the year, and the other side is right the other half of the year, but at the end of the year everyone is screwed.
The analyst goes on to say that he expects Ethereum to post lower highs and lower lows throughout the remainder of 2023.
altcoinIt is trading at $1,609 at press time, down 1.2% in the last 24 hours.