A cryptocurrency analyst on the Ethereum Outlook YouTube channel said that the second-largest cryptocurrency by capitalization is on the verge of an “extreme swing,” suggesting a drop in value to $400.
Benjamin Cowen announced a possible decrease in the profitability of blockchain platforms built on Ethereum smart contract technologies by the end of the year. Ether’s move towards a lower market value is natural, as in 2023 both ETH bulls and bears “failed and failed to implement their strategies.”
The cryptanalyst expects Ether to show lower highs and even lower lows until the end of 2023, ranging from $800 to $400.
Earlier, Bloomberg Intelligence senior macro strategist Mike McGlone warned crypto investors that Bitcoin’s correction was not without reason and the near future would be difficult for the digital asset industry.
Source: Cryptocurrency
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