Ethereum Is Getting Pretty Close to Bottoming Out Against Bitcoin, Warns Crypto Analyst Benjamin Cowen
A widely followed crypto analyst says that smart contract platform Ethereum (ETH) appears close to bottoming out against Bitcoin (BTC).
In a new video update, crypto strategist Benjamin Cowen tells his 877,000 YouTube subscribers that the ETH/BTC pair will likely find its cycle low under 0.017 ($2,181) sometime near the end of the year.
“ETH/BTC market cap ratio is getting pretty close to the lows…I think there is a decent chance that it will bottom out.”
However, according to Cowen, if the US Federal Reserve were to cease its monetary policy of quantitative tightening, the ETH/BTC pair would immediately bottom out. Quantitative tightening is when central banks shrink their budgets to reduce the amount of money…
