Analyst: Current ETH Situation Similar to 2019, Fed Policy Shift Needed for Rebound

BlockBeats News, March 14th, Analyst Benjamin Cowen stated in his latest report to subscribers that the current situation of ETH is similar to that of 2019, and it may require a change in the Federal Reserve's monetary policy to trigger a bottom rebound in the ETH/BTC exchange rate.

Cowen stated that in 2019, ETH's price fell below its support level just as the Federal Reserve was ending its quantitative tightening policy. People found it very difficult to make money in this cycle because the monetary policy in this cycle remained unchanged. In the previous cycle, the market witnessed a change in monetary policy a year before the halving. We are currently in the year after the halving, but the quantitative tightening policy has not changed. The Federal Reserve has only slightly reduced the scale and slowed the pace, but has never truly stopped.