Cryptocurrency analyst Benjamin Cowen said in his post on YouTube that he expects a 65 percent drop for Ethereum.
In the challenging cryptocurrency market, the course of price activity cannot be predicted. High volatility market conditions are in a bear trend as a constant condition. The crash of the FTX exchange, the eruption of the Terra crisis, and the fact that many crypto projects stopped their withdrawals were important factors. Investors were in a mood of fear for every possible worst-case scenario. Crypto analyst Benjamin Cowen stated that he expects a collapse for Etheruem, citing market conditions.
Benjamin Cowen, who has 779 thousand subscribers on YouTube, made ambitious statements about the price of Ethereum (ETH). Cowen thinks that the ETH price will collapse due to a major economic concern.
“I think you’re still looking a leg down here regarding the value of Ethereum against the US dollar. I think this $400-$600 range is a good place to start looking for the same type of value we saw last cycle.”
According to Cowen, Ethereum’s social risk metric also indicates a preparation for selling pressure. Ethereum price today is $1,177.27 with a 24-hour trading volume of $8,309,733,586. ETH price is down -2.6% in the last 24 hours. It has a circulating supply of 120 Million ETH coins and a total supply of 121 Million.