Right. So, there’s this analyst, Benjamin Cowen. Apparently, he once correctly predicted that the next crypto excitement would revolve around Bitcoin – a development that surprised precisely no one who’s ever looked at a chart. Now, he’s having a bit of a moment with Ethereum, and is suggesting it’s…well, it’s time for it to shine. Which, frankly, sounds exhausting. All this shining.
Back in November of 2024 (a date which, in crypto time, is roughly equivalent to the Jurassic Period), Cowen theorized that Ethereum would “come home.” This, as far as anyone can tell, meant it would fall back to a line on a graph. A perfectly logical thing to predict in a market built on…well, not logic, precisely.
And lo, in April of this year, Ethereum did indeed descend to around $1,550, prompting Cowen to declare, with the solemnity usually reserved for announcing the discovery of a new species of mildly disappointing beetle, that ETH had “come home”. 🎉
Now, he’s saying Ethereum’s next upward surge will be fueled by people realizing their altcoins are, to put it mildly, not doing so well, and fleeing towards the relative safety of ETH. A bit like passengers scrambling for the lifeboats on a particularly volatile digital Titanic. 🚢
Here’s Cowen’s wisdom, distilled for your convenience:
“If you bought ETH when it went home and are currently experiencing FOMO regarding altcoin rallies, consider this – and try not to overthink it:
The combined altcoin market is down a rather substantial 40% compared to ETH since ETH’s ‘homecoming’. That’s a lot of value mysteriously disappearing.
We’ve reached that pivotal moment in the cycle where you ask yourself:
‘Yes, my altcoin *went* up, but is it currently experiencing a rather unpleasant hemorrhage of value relative to Ethereum?’
When ALTs bleed to BTC, favor BTC. When ALTs bleed to ETH, well, you get the idea. It’s really not rocket surgery.
Honestly, it’s not that complicated.”
He also posits that Ethereum has a reasonable chance of reaching heights previously unknown once it overcomes a particularly stubborn resistance level that’s been generally ruining everyone’s good time since December 2021. One can only assume this resistance level is guarded by a very grumpy digital dragon. 🐉
According to Cowen:
“Now that ETH has found its way back to base, the next time it touches $4,000, there’s a high probability it’ll actually *break* through. For the cycle to feel truly…complete (whatever that means), ETH should aim for new highs sometime in the next half-year.”
Currently, as of this very moment (which, let’s face it, will be obsolete in approximately five seconds), Ethereum is trading at $3,725. Which is… a number.
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2025-07-22 03:02