A famous encryption analyst believes that Ethereum (ETH) will have to carry some “pain” before the bounce.
In a new video on YouTube, Benjamin Cowen tells its 886,000 subscribers that there is likely to have a change in monetary policy for the ETH chart against Bitcoin (BTC) down.
“But for you to have a change in monetary policy, you must have pain. Welcome to the pain. This is the pain you need in the end. Remember the last session [in 2019]Eth/bitcoin bottom eth/USD break support. ”
Quinn notes that ETH decreased to less than the level of its support against the US dollar in 2019 before the federal reserve ended in quantitative tightening.
The analyst says that everything that happened in the previous session is “mainly in this course, it only happens on a longer time frame.” Quinn also notes that most of the current round price points are about 10x what they were in the 2019 market.
“The reason is that people are having difficulty moving in this session and why you feel very different because monetary policy has never changed this session. In the last session, we saw a change in monetary policy in the previous year. We are now in the year after half and we still have not seen a change in quantitative tightening. We have seen them flowing a little. I have slowed it, but they never stopped it.”
ETH is traded at a price of $ 1907 at the time of this report. The encryption assets have decreased secondly by the maximum market by more than 1 % in the past 24 hours.
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