Ethereum’s Big Dip Before the Big Win? Benjamin Cowen’s Bold Predictions! 😱

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Ah, the world of cryptocurrency—where fortunes rise and fall with the whim of the market. Benjamin Cowen, the ever-vigilant seer of the digital asset realm, has offered his latest musings to his nearly 900,000 followers. According to him, Bitcoin (BTC) may soon descend beneath the mysterious “bull market support band” by August, possibly tumbling to a rather modest $64,000. But do not be alarmed, dear reader, for this is merely part of the grand dance of the market, where things often go down before they soar.

Now, let us discuss the illustrious bull market support band, which, in essence, is a union of two rather unassuming indicators: the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). How delightful! These simple tools help us keep track of the market’s capricious behavior.

Mr. Cowen, ever the meticulous observer, recalls how in previous years—2023 and 2024, to be precise—Bitcoin flirted with this very band, dipping below it in the most dramatic fashion during the months of August and September. Oh, how the markets love to tease us!

But here’s the true twist, dear readers: If Bitcoin should fall to such depths, Ethereum (ETH), our beloved silver to Bitcoin’s gold, might also experience a gentle fall—perhaps to the modest sum of $1,000. But let us not despair too quickly!

“It is my considered opinion,” says Mr. Cowen, “that Ethereum shall not descend beneath the noble sum of $1,100, as this represents the lower logarithmic regression trendline. It is here, dear friends, that we find the final low before a truly monumental rally, much like the one that began in the previous cycle around $116 to $120. Multiply that by 10, and voilà—$1,100 to $1,200!”

For those of you not versed in the intricacies of logarithmic regression bands, allow me to explain: these bands are crafted with the utmost care to track the fair value of an asset, using what Mr. Cowen so charmingly calls “non-bubble data.” So fret not, for these predictions are grounded in the most reasonable of analysis, not the fanciful dreams of a bubble-prone world.

As of this very moment, Ethereum is trading at a robust $2,480, though it has taken a slight dip of more than 1% in the past 24 hours. Bitcoin, too, is dancing on the edge of $102,536, having dropped a smidge more than 1.5% in the same period.

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2025-05-13 18:08