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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-predicts-sharp-ethereum-decline" data-wpel-link="internal">Analyst Predicts Sharp Ethereum Decline</a><br></p>
<p style="text-align: justify">Renowned cryptocurrency analyst Benjamin Cowen has issued a stark warning to Ethereum (ETH) investors, forecasting a substantial drop in the cryptocurrency’s price. Cowen’s analysis, which has previously accurately predicted market corrections, now signals a potential downturn for ETH.</p> 
<h2 id="why-might-ethereum-decline">Why Might Ethereum Decline?</h2> 
<p style="text-align: justify">Expressing his views on social media platform X, Cowen drew parallels between Ethereum’s current situation and its market behaviors in 2016 and 2019. He observed that Ethereum might be on the brink of repeating its historical substantial corrections. Cowen pointed to Ethereum’s recent decline against <a href="https://en.bitcoinhaber.net/experts-predict-volatile-future-for-bitcoin-prices" data-wpel-link="internal">Bitcoin</a> (ETH/BTC) as a sign of a more significant drop in ETH/USD.</p> 
<p style="text-align: justify">Earlier this year, Cowen forecasted a steep 70% drop in Ethereum’s price, predicting it could fall to approximately $1,150. He noted that in previous instances where ETH/BTC lost value, ETH/USD experienced similar declines.</p> 
<h2 id="what-could-trigger-the-drop">What Could Trigger the Drop?</h2> 
<p style="text-align: justify">Cowen also noted that Ethereum appears to be following its 2019 market cycle. He predicted that Ethereum might stabilize at current levels for a few weeks before another drop, potentially triggered by a Federal Reserve rate cut. Cowen stated, “If it mirrors 2019, it will stay at these levels for a few weeks, then drop after a Fed rate cut.” He emphasized that this analogy has been the most reliable guide this year.</p> 
<p style="text-align: justify">According to CME’s FedWatch tool, the probability of a Fed rate cut next month has increased to 100% following recent corrections in both cryptocurrency and <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">stock markets</a>. This anticipated rate cut could serve as a catalyst for Ethereum’s predicted price decline.</p> 
<h2 id="critical-insights-for-investors">Critical Insights for Investors</h2> 
<ul> 
 <li>Monitor Ethereum’s performance against Bitcoin (ETH/BTC) for early signs of broader market trends.</li> 
 <li>Consider the historical market cycles of Ethereum in making investment decisions.</li> 
 <li>Stay updated on Federal Reserve rate policies as they may influence cryptocurrency prices.</li> 
</ul> 
<p style="text-align: justify">Cowen’s previous prediction of a significant correction for Bitcoin last month underscored its similarity to the 2019 cycle and warned of a potential capitulation of altcoins against the US dollar. Investors should heed these insights and prepare for potential market shifts.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-predicts-sharp-ethereum-decline" data-wpel-link="internal">Analyst Predicts Sharp Ethereum Decline</a></h5>

Analyst Predicts Sharp Ethereum Decline

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