Popular crypto analyst Benjamin Cowen believes Ethereum (ETH) is mimicking the 2019 cycle.
In a new YouTube video, Cowen tells 891,000 subscribers that Eth’s recent price range appears to reflect 10 times what he tracks six years ago.
“Ethereum goes through the same structure we experienced in 2019, but the reason the cycle feels so different is because it happened over a much longer period of time. But there’s a reason it’s happening over a much longer period of time. That’s because the quantitative tightening has been going on for a much longer period of time. It will probably be in a few months.”
Quantitative tightening (QT) is when central banks reduce their budgets and reduce the amount of the economy as a way to combat inflation.
Cowen said the document summarizing the Federal Open Market Committee meeting in January suggests the US Federal Reserve could end QT by mid-2025.
Ethereum is trading at $1,652 at the time of writing. Cryptocurrencies ranked second by market capitalization have grown nearly 12% over the past 24 hours.
https://www.youtube.com/watch?v=5_gatryel8?
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