Crypto analyst Benjamin Cowen has laid out what he believes to be the worst-case scenario for Ethereum (ETH) price action.
In a new strategy session, Cowen says that a possible ETH dip into the $400-$800 range is the worst we can see, but it’s a once-in-a-lifetime opportunity for bulls. It is also an opportunity, he said.
“Some people have asked me what my worst case scenario is for Ethereum. If it were simply rejected by the bull market support band at … I would view this as a potential build-up stage of life.”
On the other hand, Cowen believes that Ethereum could also see stars lining up. According to crypto strategists, ETH could take a different route if the highly anticipated update comes while the Federal Reserve eases monetary policy.
“If Ethereum gets rejected here and makes a lower low, I would consider it a better candidate for a lifetime accumulation phase. You have to understand that a lot of these software upgrades will go wrong if the transition to . A different route may be taken.”
Ethereum founder Vitalik Buterin recently said that the Ethereum upgrade is scheduled to launch on September 15th.
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