According to Benjamin Cowen the worst case scenario, (depending on how bad this potential recession ends up he would believe) Ethereum the main downside levels can be $400 to $600.
He said there’s a lot of evidence to suggest that Ether one cycle behind Bitcoin.
In terms of its volatility Ethereum’s first cycle is bottomed 95% bear market and bitcoin’s first bear Market was 90%-94% Bitcoin second bear Market was around 87% so if Ethereum goes 87% down from its all-time high so 88% down side it’s gonna put Ether at just below $600.
He think there’s a case to be made that Ethereum could have this like final capitulation down into the four to six hundred dollar range spend some time accumulating there.
A year or something maybe in 2023 and then and then we hopefully go back up in 2024 or 2025.
Further more he said bitcoin has a good case to be made at the bottom somewhere between $10000 to $14000 and that would represent like like an 80% to 85% drawdown from the all-time high which is pretty typical for Bitcoin.
