Cryptocurrency analyst Benjamin Cowen mentioned that given Bitcoin’s present state of affairs, it’s unlikely that Ethereum will hit new highs subsequent 12 months.
“If Bitcoin is actually in a bear market, which is what it actually appears like, it is going to be a bit of bit troublesome for Ethereum to stand up there,” Cowen mentioned on Tuesday’s Bankless podcast.
This comes after veteran dealer Peter Brandt predicted on December 19 that Bitcoin might fall to $60,000 by the third quarter of 2026.
Nevertheless, Cowen mentioned that if Ether (ETH) is ready to regain its all-time excessive of $4,878, which it final hit in August, there may very well be a “bull lure” the place the worth spikes after which plummets to $2,000.
Ether will rise 40% if it returns to all-time highs
Ethereum briefly regained its 2021 all-time excessive of $4,878 on August 22, however then entered a downward development, dropping to $2,767 in November.
On the time of publication, Ether is buying and selling at $2,898, based on CoinMarketCap. A return to all-time highs would signify a 40.59% rise from present ranges.
Benjamin Cowen appeared on the Bankless podcast on December twenty third. supply: bankless
Nevertheless, Cowen pressured that whereas this state of affairs will not be inconceivable for Ether, it most likely will not set off a domino impact throughout the broader crypto market subsequent 12 months.
“The one altcoin I am contemplating that is Ethereum. I believe a variety of different altcoins are cooked to a point at this level on this cycle,” he mentioned, including that it is unlikely to hit new highs this cycle, if not but.
Fundstrat World Advisors reportedly warned traders on December 17 of the opportunity of a “vital drawdown” that might see Ether fall from $1,800 to $2,000 in 2026.
In the meantime, cryptocurrency analyst Crypto with James mentioned on December 16 that Ether is “not achieved but” and mentioned there’s nonetheless potential for it to rise once more towards all-time highs within the brief time period.
