Analyst: The current situation with ETH is similar to that of 2019, a change in policy by the Federal Reserve is needed for it to hit bottom and rebound

BlockBeats reports that on March 14, analyst Benjamin Cowen stated in his latest report to subscribers that the current situation of ETH is similar to that of 2019. It may require changes in the Federal Reserve's monetary policy to make the ETH/BTC exchange rate bottom out and rebound.

Cowen said that in 2019, the price of ETH fell below its support level just before the Federal Reserve ended its quantitative tightening policy. People found it very difficult to make money during this cycle because there was no change in monetary policy during this period. In the previous cycle, the market witnessed a shift in monetary policy a year before halving. At present, we are one year after halving, but there has been no change in quantitative tightening policies. The Fed has only slightly reduced its scale and slowed down but never really stopped.