A well-known expert in the field of cryptocurrency analysis has made a bold prediction regarding the future market value of Ether.
Benjamin Cowen recently uploaded a video to his YouTube channel in which he explains that the current market price of Ether, which is around $2,000, is experiencing an imbalance between its fair and market prices.
Cowen predicts that this discrepancy will result in a significant drop in the price of Ether, from $1,921 to $800.
Cowen cites the logarithmic regression trend line of Ether’s fair value, which he states is currently at $800, as evidence for his prediction.
He warns his subscribers of the possibility of a recession and compares the potential behavior of Ether to that seen in 2019 and 2020, where the asset fell below the fair value logarithmic regression trend line.
According to Cowen, the true fair value of Ether is much lower than its current market value, somewhere between $400 and $600.
Although he acknowledges that there is no guarantee that these levels will be reached, he suggests that investors should consider the possibility of Ether returning to $700 or $800.
In a previous video, Cowen shared his opinion on the best time to buy Ethereum and advised his viewers to take certain indicators into account before purchasing.
With his latest prediction, Cowen has once again demonstrated his expertise in the cryptocurrency market and provided valuable insights for investors to consider.