Cryptocurrency analyst Benjamin Cowen, Ethereum $2,360He predicts that Ethereum could experience a deeper correction by the end of the year. Cowen stated in his statements on the Bankless podcast that Ethereum could lose more than 48% of its current value and recover by the beginning of 2025.
Market Expectations
Cowen noted that Ethereum could remain above the $2,000 level for some time, but could fall below that level in the fourth quarter. However, he said that if a recession occurs, he would review his expectations and there could be divergences in the markets.
Historical Trends
Cowen stated that Ethereum may have followed the logarithmic trend line from 2016 and 2019, suggesting that the price could fall to $1,200 and then enter an uptrend. He stated that Ethereum is currently just below the $2,400 level and that a decline may occur after interest rate cuts.
Current Market Situation
At press time, Ethereum was trading at $2,342 and was down nearly 5% over the past seven days. According to Cowen’s analysis, Ethereum’s future movements could vary depending on market conditions.
Cowen’s analysis draws attention to the uncertainties and potential economic fluctuations in the cryptocurrency market. He notes that external factors, such as a recession, could affect the value of Ethereum. Such analyses can provide important insights into market dynamics for investors. However, it is important for investors to make their own decisions by doing their own research and seeking professional advice.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
