Ethereum is unlikely to hit new highs within the coming 12 months, given the present circumstances for Bitcoin, says crypto analyst Benjamin Cowen.
“If Bitcoin really is actually in a bear market, which is what it looks like, it could be sort of laborious for Ethereum to go up there,” Cowen stated on the Bankless podcast on Tuesday.
It comes after veteran dealer Peter Brandt predicted on Dec. 19 that Bitcoin might fall as little as $60,000 by the third quarter of 2026.
Nonetheless, Cowen stated that if Ether (ETH) does handle to reclaim its $4,878 all-time excessive, which it final reached in August, it might turn into a “bull lure,” with a pointy downward reversal to $2,000 following a surge in worth.
Ether reclaiming all-time excessive can be a 40% bounce
Ethereum briefly reclaimed its 2021 all-time excessive of $4,878 on Aug. 22, earlier than sliding right into a downtrend that noticed it drop to $2,767 in November.
On the time of publication, Ether is buying and selling at $2,898, in line with CoinMarketCap. A return to its all-time excessive would characterize a 40.59% improve from its present stage.
Benjamin Cowen appeared on the Bankless podcast on Dec. 23. Supply: Bankless
Nonetheless, Cowen emphasised the state of affairs isn’t not possible for Ether, nevertheless it in all probability wouldn’t set off a domino impact throughout the broader crypto market subsequent 12 months.
“The one altcoin that I’m even contemplating this for is Ethereum. I feel loads of the opposite altcoins are sort of cooked at this level for the cycle,” he stated, including that it’s unlikely they’ll attain new highs this cycle in the event that they haven’t already.
Fundstrat World Advisors reportedly warned its buyers on Dec. 17 a couple of potential “significant drawdown” in 2026, which might see Ether decline to between $1,800 and $2,000.
In the meantime, crypto analyst Crypto With James stated on Dec. 16 that Ether is “not executed but” and a near-term transfer again towards all-time highs remains to be on the desk.
