Popular crypto analyst Benjamin Cowen thinks Ethereum ( ETH ) is mimicking its 2019 cycle. In a new YouTube video , Cowen tells his 891,000 subscribers that ETH’s recent price points look like a 10x reflection of what it tracked six years ago. “Ethereum’s going through the same structure that it went through in 2019, but the reason why the cycle feels so different is because it has taken place over a much longer period of time. But there’s a reason why it’s taking place over a much longer period of time, and the reason is that quantitative tightening has lasted a lot longer. Remember last cycle, QT ended in the pre-halving year. We’re now not that far from being halfway through the post-halving year and QT still hasn’t ended, but it probably will within the next few months.” Quantitative tightening (QT) is when central banks shrink their budgets to reduce the amount of money circulation in the economy as a means of countering inflation. Cowen says a document summarizing a Federal Open Market Committee meeting in January suggests the U.S. Federal Reserve might end QT by mid-2025. Ethereum is trading at $1,652 at time of writing. The second-ranked crypto asset by market cap is up nearly 12% in the past 24 hours. ? Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Here’s Why Ethereum (ETH) Is Underperforming This Market Cycle, According to Analyst Benjamin Cowen appeared first on The Daily Hodl .
