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Benjamin Cowen Doubles Down on Ethereum Call, Says Big ETH Collapse By End of the Year Most Likely OutcomeA widely followed crypto analyst is doubling down on his prediction for Ethereum (ETH), the top smart contract platform by market cap.
In a new strategy session, crypto analyst Benjamin Cowen tellshis 787,000 YouTube subscribers that Ethereum is likely to collapse by the end of the year.
“I think Ethereum returns home before it goes on any sustained bull run. A lot of people got excited – I mean, they can get excited all they want about this rally. It’s still just a 2X move. You can celebrate a 2X move if you want, but you can get that in the stock market pretty easily. I mean, a lot of stocks do 2X moves…
You ride a 50X move up, and then, you know, you take a side, whether you’re bullish or bearish, and everyone celebrates $100 moves in either direction. But that’s not what you’re here for. What you’ll notice is that every time Ethereum made a rally to new highs, it did not happen until Ethereum went home first. “Home” is the lower regression band. Right now, we need to see Ethereum go home for new highs to come.
[We’ve] still got to see ETH go home, my friends, and it hasn’t happened yet. So, I think that it will. And again, you can see on these lower time frames, at least over the last year and a little over a year, that it’s trying to hold those levels. But again, at some point, it likely breaks, and when it does, that’s likely when Ethereum starts to head home.”
Source: Benjamin Cowen/YouTube
According to an analysis published almost a year ago, Cowen says“home” for ETH is between $600-$800, where his own version of the logarithmic regression band (LGC) sits.
Cowen says ETH will be coming “home” within the next several months.
“I think the most likely outcome is for Ethereum to drop below $1,200 within the next two and a half months and I mean it could certainly go lower.”
ETH is worth $1,572 at time of writing, down 5% in the last week.
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Here are The Two Possible Outcomes for XRP This Week (Ripple Price Analysis)Ripple’s price has shown a bullish trend in recent weeks, gradually increasing towards a key resistance level. However, there is a possibility of another crash if the price fails to break above this area.
Technical Analysis
By Edris
The USDT Paired Chart
Against USD, XRP has been steadily climbing after a significant crash in August. It is currently trading within a narrow range between the 50-day and 200-day moving averages, around the $0.5 mark. If there is a bullish breakout, the market could reach the crucial $0.55 resistance zone, which will likely determine the mid-term market trend.
A successful break above this area would pave the way for the price to rise towards the $0.9 level once again. On the other hand, a rejection could have severe consequences, potentially causing the market to drop to the $0.4 level or even lower.
Source: TradingView
The BTC Paired Chart
Against BTC, Ripple is painting a different picture. The price of XRP has been moving sideways in recent weeks, trading below both the 50-day and 200-day moving averages, which are located around the 1900 SAT mark.
The RSI indicator has also fallen below the 50% threshold, indicating that the momentum currently favors the sellers. The 1800 SAT support level is the only barrier preventing another crash toward the 1600 SAT zone. Investors should hope that this level holds for XRP to rebound higher.
Source: TradingView
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Cryptocurrency chartsby TradingView.
Tags: Ripple (XRP) Price
SEC vs Ripple Update: Possible Outcomes Analyzed by Lawyer Jeremy HoganLegal expert Jeremy Hogan analyzes the SEC vs. Ripple case, revealing potential outcomes.
The XRP community anticipates a possible settlement by December 21, 2023, as the legal battle unfolds.
With a recent court order mandating a physical settlement discussion, the XRP community is eagerly anticipating the possible resolution of the landmark Ripple vs SEC lawsuit. In this article, we explore the chances of various outcomes and delve into the insights provided by legal expert Jeremy Hogan.
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The Court’s Call for Settlement Talks:
Judge Analisa Torres, who presides over the case, has issued a significant order. Both parties are required to engage in a face-to-face settlement discussion before the pretrial conference scheduled for April 16, 2024. The critical question that lingers is whether this mandate could pave the way for a resolution.
Jeremy Hogan’s Analysis:
Jeremy Hogan, a partner at Hogan & Hogan Law Firm and a notable figure in the cryptocurrency realm, has assessed the probabilities of different scenarios in this prolonged legal battle. According to Hogan, three primary possibilities exist:
1. SEC Proceeds with a Trial Against Individual Defendants:
The first possibility according to Hogan is that the SEC will proceed with a trial against individual defendants. He stressed that this option could prolong the case until as late as 2027, making it an unpleasant choice for the SEC.
2. SEC Settles Against Individual Defendants and Obtains a Final Judgment Against Ripple
The second scenario Hogan explores is the SEC settling with individual defendants and securing a final judgment against Ripple. According to Hogan, this could be the most efficient route for the SEC to reach an appellate court and potentially conclude the case by August 2026.
3. SEC Settles All Litigation Against Ripple and Individual Defendants
While the least likely scenario in Hogan’s assessment, he regards it as a ‘win-win’ for both parties. In this outcome, the SEC would settle all litigation against Ripple and individual defendants, leading to benefits for both sides. This resolution could enhance the SEC’s reputation while allowing Ripple to move forward.
Also, Hogan has identified December 21, 2023, as a potential settlement date. Though with odds less than 20%. This revelation has generated excitement and anticipation within the XRP community as they await further developments in this landmark legal battle.
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Community Speculations:
Apart from Hogan’s expert analysis, the XRP community has been rife with speculations. Influencer Jenny Q has expressed doubts about a settlement despite Ripple’s apparent advantage. Additionally, rumors hint at ongoing settlement discussions between the SEC and Ripple.
The Ripple Effect on Cryptocurrency Regulation:
Irrespective of the outcome, this lawsuit could set a crucial precedent for cryptocurrency regulation in the United States. The SEC has faced criticism for its assertive stance on digital assets, and a loss could prompt a reevaluation of its approach in future cases. On the other hand, a win for the SEC could usher in a new era of regulatory scrutiny for cryptocurrencies.
Conclusion:
As the SEC XRP case continues to unfold, the crypto community remains captivated by the potential outcomes. With a court-ordered settlement discussion on the horizon and legal expert Jeremy Hogan’s insights, the future of this landmark lawsuit remains uncertain. Regardless of the conclusion, it is clear that the ramifications of this case will extend beyond Ripple and may significantly influence the regulation of cryptocurrencies in the United States.
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The post SEC vs Ripple Update: Possible Outcomes Analyzed by Lawyer Jeremy Hoganappeared first on Bitcoinsensus.A widely followed crypto analyst is doubling down on his prediction for Ethereum (ETH), the top smart contract platform by market cap. In a new strategy session, crypto analyst Benjamin Cowen tellshis 787,000 YouTube subscribers that Ethereum is likely to collapse by the end of the year. “I think Ethereum returns home before it goes on any sustained bull run. A lot of people got excited – I mean, they can get excited all they want about this rally. It’s still just a 2X move. You can celebrate a 2X move if you want, but you can get that in the stock market pretty easily. I mean, a lot of stocks do 2X moves… You ride a 50X move up, and then, you know, you take a side, whether you’re bullish or bearish, and everyone celebrates $100 moves in either direction. But that’s not what you’re here for. What you’ll notice is that every time Ethereum made a rally to new highs, it did not happen until Ethereum went home first. “Home” is the lower regression band. Right now, we need to see Ethereum go home for new highs to come. [We’ve] still got to see ETH go home, my friends, and it hasn’t happened yet. So, I think that it will. And again, you can see on these lower time frames, at least over the last year and a little over a year, that it’s trying to hold those levels. But again, at some point, it likely breaks, and when it does, that’s likely when Ethereum starts to head home.” Source: Benjamin Cowen/YouTube According to an analysis published almost a year ago, Cowen says“home” for ETH is between $600-$800, where his own version of the logarithmic regression band (LGC) sits. Cowen says ETH will be coming “home” within the next several months. “I think the most likely outcome is for Ethereum to drop below $1,200 within the next two and a half months and I mean it could certainly go lower.” ETH is worth $1,572 at time of writing, down 5% in the last week. I Don't Miss a Beat – Subscribeto get email alerts delivered directly to your inbox Check Price Action Follow us on Twitter, Facebookand Telegram Surf The Daily Hodl Mix Check Latest News Headlines Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney