A well-known crypto analyst is sounding the alarm for investors, cautioning that Ethereum (ETH), a popular alternative cryptocurrency, could experience a significant downturn in December.

In a recent strategy session, Benjamin Cowen, a prominent crypto trader, shared his concerns with his 869,900 followers on the social media platform X. Drawing from historical patterns, Cowen predicts that the second-largest digital asset by market cap may face a drop towards the end of the year, potentially reaching its lowest point in December.

Cowen points out that in 2016, ETH experienced major declines in April, August, and December. Similarly, in 2024, ETH saw significant drops in April and August. Based on this observation, there is a high likelihood that ETH will follow a similar pattern, with another drop expected before the end of the year, and the low point occurring in December.

Ethereum is currently being traded at $2,517, experiencing a slight decrease in value in the past 24 hours.

Cowen also mentions the ETH/BTC pair, suggesting that it could start to decline around the same time and potentially fall as low as 0.036 if it fails to maintain support around 0.038. He believes that the low point for this pair will be reached before the end of the year, possibly in the second week of January at the latest. If 0.038 fails as support, the next likely target is the 2016 high of 0.036. Cowen has consistently expressed his belief that the low point for this cycle will likely be between 0.03-0.04.

Currently, the ETH/BTC pair is valued at 0.0372.

According to Cowen, the ETH/BTC pair will not reach its low point until it surpasses its 50-day simple moving average (SMA). He emphasizes that as long as ETH/BTC fails to rise above the 50-day SMA, it is reasonable to assume that the low point has not yet been reached. In 2016 and 2019, once the actual low point was established, ETH/BTC experienced a strong upward movement above the 50-day SMA, a trend that has not yet occurred in the current scenario.

It is important to note that the opinions expressed by Benjamin Cowen are not investment advice. Investors should conduct their own research and exercise caution when making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at an individual’s own risk, and any losses incurred are the investor’s responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.