Ether Price Dip Predicted After Surge in Supply
Founder of Into The Cryptoverse, Benjamin Cowen, has made a prediction regarding the price of Ether following a surge in supply. Cowen believes that if the current trend continues, the price of Ether will “revert” to levels seen before the Ethereum Merge in September 2022.
Historical Data Supports Cowen’s Prediction
The Ethereum Merge, which took place in September 2022, was a significant event that had a noticeable impact on the price of Ether. However, with the supply of Ether now increasing, Cowen’s prediction of a price dip does not come as a surprise.
One of the factors contributing to this potential price dip is the novelty of ETFs. As the excitement surrounding ETFs wears off, it is likely that the demand for Ether will decrease, causing a drop in price.
Investors and cryptocurrency enthusiasts will be keeping a close eye on the market to see how Cowen’s prediction plays out in the coming weeks.
