A closely followed analyst who accurately called that the crypto bull market will be focused on Bitcoin (BTC) now believes that it’s time for Ethereum (ETH) to shine.

In November of 2024, analyst Benjamin Cowen predicted that Ethereum would “come home” or drop to its logarithmic growth trendline based on historical patterns.

In April of this year, Ethereum fell to around $1,550, prompting Cowen to declare that ETH had come home.

Now, Cowen says that Ethereum rallies will be partly fueled by capital rotation from altcoins to ETH.

“If you bought ETH when it went home and feel like you are missing out on ALT rallies, consider this:

The collective altcoin market is down 40% against ETH since ETH went home.

We are at the:

‘Yes your alt went up, but does it bleed against Ethereum’ phase of the cycle…

When ALTs bleed to BTC, be in BTC over ALTs.

When ALTs bleed to ETH, be in ETH over ALTs.

It’s not that complicated.” 

The analyst also believes that Ethereum has a solid shot at printing new all-time highs once it takes out a resistance level that has kept the market bearish since December 2021.

“Since ETH went home, the next time it reaches $4,000, there is a good chance it actually breaks through. One way for this cycle to feel more complete is for ETH to rally to new highs sometime over the next half-year.”

At time of writing, Ethereum is worth $3,725.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Analyst Benjamin Cowen Issues Altcoin Warning, Predicts Alts Will Now ‘Bleed’ Against Ethereum appeared first on The Daily Hodl.

A closely followed analyst who accurately called that the crypto bull market will be focused on Bitcoin (BTC) now believes that it’s time for Ethereum (ETH) to shine.

In November of 2024, analyst Benjamin Cowen predicted that Ethereum would “come home” or drop to its logarithmic growth trendline based on historical patterns.

In April of this year, Ethereum fell to around $1,550, prompting Cowen to declare that ETH had come home.

Now, Cowen says that Ethereum rallies will be partly fueled by capital rotation from altcoins to ETH.

“If you bought ETH when it went home and feel like you are missing out on ALT rallies, consider this:

The collective altcoin market is down 40% against ETH since ETH went home.

We are at the:

‘Yes your alt went up, but does it bleed against Ethereum’ phase of the cycle…

When ALTs bleed to BTC, be in BTC over ALTs.

When ALTs bleed to ETH, be in ETH over ALTs.

It’s not that complicated.” 

The analyst also believes that Ethereum has a solid shot at printing new all-time highs once it takes out a resistance level that has kept the market bearish since December 2021.

“Since ETH went home, the next time it reaches $4,000, there is a good chance it actually breaks through. One way for this cycle to feel more complete is for ETH to rally to new highs sometime over the next half-year.”

At time of writing, Ethereum is worth $3,725.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The post Analyst Benjamin Cowen Issues Altcoin Warning, Predicts Alts Will Now ‘Bleed’ Against Ethereum appeared first on The Daily Hodl.