December Dread: Analyst Forecasts Potential Ethereum Collapse

Benjamin Cowen, a prominent cryptocurrency analyst, has recently warned investors of a potential collapse of Ethereum (ETH) in December. During a new strategy session on social media platform X, Cowen informed his 869,900 followers that historical patterns suggest that the second-largest digital asset by market capitalization might fall to its lowest point since 2019 by the end of this year. At the time of writing, Ethereum is trading at $2,517, showing a slight decline over the past 24 hours.

Cowen further noted that the ETH/BTC pair could also drop around the same time. If it fails to hold the support level around 0.038, it could fall to 0.036. Currently, ETH/BTC is valued at 0.0372. According to Cowen, unless ETH/BTC breaks through the 50-day simple moving average (SMA), it will not hit a new low.

Sentiment: Negative