Respected crypto market analyst Benjamin Cowen said in a recent update Ethereum A serious warning about ‘s future in the crypto market found. Cowen, who stands out with his analysis, shared his latest findings regarding the course of Ethereum (ETH) against Bitcoin (BTC). These findings could create shockwaves in the crypto space.
According to Cowen’s analysis, Ethereum, Bitcoin It will experience a significant decline with a projected 40% decline against it. Cowen proved his claim by pointing out the steady decline in the ETH/BTC rate. The expert’s prediction was highlighted by a detailed chart he shared on social media, showing Ethereum’s potential decline from its current position of 0.057 BTC to an alarming low of 0.035 BTC.
Just a continuous bleed by #ETH / #BTC.
Remember the collapse of the ETH/BTC ratio could also correspond to the end of the altcoin reckoning. pic.twitter.com/dhaNiBNz3B
NEWS CONTINUES BELOW— Benjamin Cowen (@intocryptoverse) October 10, 2023
This dire prediction isn’t Cowen’s first of its kind. He first expressed bearish sentiment on Ethereum versus Bitcoin in June, predicting the collapse of the ETH/BTC ratio. Despite the gradual pace of decline, Cowen remained firm in his analysis. Moreover, last week he reiterated his concerns about the ongoing downward trend.
Koinfinans.com As we reported, Cowen’s prediction is based on Bitcoin’s increasing dominance and broader cryptocurrency It is based on its assessment of the continued withdrawal of liquidity from the market. As Bitcoin continues to dominate, the appeal of altcoins like ETH may wane. Additionally, it could potentially lead to the predicted devaluation against BTC.