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Benjamin Cohen, a crypto analyst, warned about the possible fall in the price of Ethereum and Cardano. In Pooyanmusic today, we will forecast the price of Ethereum and Cardano. The price of Ethereum and Cardano is in danger of falling.
In a recent YouTube video, well-known cryptocurrency analyst Benjamin Cowen shared his thoughts on future Ethereum price changes. Kwon said that the cryptocurrency could not only experience a lower price, but could potentially see its price drop below $800. Although the decline may not be drastic, he noted. But Ethereum can even touch prices below $600, $500 or $400.
Expanding on Ethereum’s possible price path, Kwon described a scenario in which the digital currency could undergo a series of fluctuations. According to him, Ethereum may see periods of slow decline. Periods associated with short price jumps. This pattern could continue until the end of the year before midterms. This situation puts bullish and bearish investors in a state of financial disorder. Coen explained that each group may feel it was right for part of the year. But then they realize that their predictions were accurate only half the time. This half-and-half prediction then leads to financial failures for all participants at the end of the year.
The price of Ethereum and Cardano is in danger of falling
In a separate video released late last month, Cohen shifted his focus to Cardano (ADA), another leading cryptocurrency. He warned that Cardano might enter a “depression” phase. A period that can significantly reduce its price. Analogous to the Nasdaq’s 50% drop, Cowen said a similar drop for Cardano, which was calculated from its $0.37 level, could push the price below $0.20.
Kwon also offered alternative ways to assess Cardano’s potential price drop. He noted that a 27% drop from the lower base could take Cardano to around $0.16. The level last seen in August 2020. And the pre-pandemic peak was around $0.07 or $0.08.
Cohen emphasized the unpredictability of digital currency prices in case of entering a recession phase. He warned that Cardano could experience several consecutive weeks of price declines. With the possibility of a short recovery that may tempt investors to take more risks. In particular, Kwon noted that Cardano’s price could “go up for a few more weeks as people collect their profits one last time.” Of course, emphasizing the overall high risk and advising investors to remain vigilant.
Also, Benjamin Cohen had previously warned about the fall in the price of altcoins, and his prediction came true.
