Renowned cryptocurrency analyst Benjamin Cowen has shared his bearish outlook on Ethereum (ETH) in comparison to Bitcoin (BTC) in the short to medium term. In a recent video addressed to his 799,000 YouTube subscribers, Cowen suggests that the Ethereum/Bitcoin (ETH/BTC) pair still has room to decline further.

Cowen’s current projection is that Ethereum/Bitcoin will reach its bottom this summer, while Ethereum/US dollar will continue to experience losses for a little longer. He anticipates that the Federal Reserve will eventually resume printing money, leading to a bullish phase for the Ethereum/Bitcoin valuation, but he believes that this point has not yet been reached.

According to Cowen, the ETH/BTC pair could potentially drop by as much as 38% from its current level as Bitcoin’s dominance increases. At the time of writing, ETH/BTC is trading at 0.04869000 BTC ($3,070).

When asked about the possible timing of the ETH/BTC pair reaching its bottom, Cowen speculates that it could happen as early as June. However, he emphasizes that this prediction is subject to monetary policy decisions. If the Federal Reserve maintains its current stance on interest rates and quantitative tightening, the decline may last longer.

It is important to note that the opinions expressed by Cowen are not intended as investment advice. Investors are advised to conduct their own research and exercise caution when engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this article was originally published, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.