ETH Market Forecast: Insights from Analyst Benjamin Cowen on the Impact of Federal Reserve Policy Changes

According to a recent analysis by Benjamin Cowen, the dynamics surrounding Ethereum (ETH) closely mirror those seen in 2019. Cowen emphasizes that a significant shift in the Federal Reserve’s monetary policy may be necessary to catalyze a rebound in the ETH/BTC exchange rate. He highlights that, during 2019, ETH’s price breached its support level concurrently with the Federal Reserve concluding its quantitative tightening strategy. This persistence of an unchanged monetary policy currently poses challenges for investors aiming to profit. In contrast to previous cycles, when a monetary policy shift occurred a year prior to the Bitcoin halving, we are now witnessing a stagnant environment in the aftermath of halving, where the Fed has only marginally eased its measures without implementing any substantial changes. Therefore, the market remains at a standstill, waiting for decisive action from the Federal Reserve.