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The danger may not be over for altcoin leader Ethereum (ETH), which is known for its weak performance against Bitcoin. One analyst claimed that if history repeats itself, Ethereum risks falling by another 50% in the fourth quarter.
The Danger Continues in Ethereum!
Popular analyst Benjamin Cowen pointed to 2016 as a possible date for Ethereum’s price action, warning that it could face a serious downturn in the final three months of the year.
The analyst noted that Ethereum may be repeating a pattern observed in 2016 on its monthly chart, which could lead to possible declines in the coming months.
However, the analyst stated that the situation will not always be bad for ETH and said that if this trend continues, Ethereum could recover significantly in the first half of 2025.
“With Ethereum turning green in September, the pattern from 2016 is still playing out.
If this pattern continues, it would mean that the fourth quarter will be red, followed by the first quarter of 2025 in green.”
*This is not investment advice.