Analyst Benjamin Cowen Updates Solana (SOL) Outlook, Says Ethereum Rival May Be Repeating 2019 Fakeout
A widely followed crypto analyst is updating his outlook on Ethereum (ETH) competitor Solana (SOL) as the market chops around. In a new video update, crypto strategist Benjamin Cowen tells his 808,000 YouTube subscribers that Solana could plummet in value if a similar https://cdn.thebittimes.com/images/2024/08/29/c0ca925320dc3c7dc0254ef79fed95a1.webp9 market pattern plays out again. Looking at the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin (BTC), Ethereum and stablecoins, Cowen shows that alts rallied in https://cdn.thebittimes.com/images/2024/08/29/c0ca925320dc3c7dc0254ef79fed95a1.webp9 but then plummeted that same year when the Federal Reserve enacted a looser monetary policy. The Fed is now expected to cut interest rates next month after years of hikes. “[Altcoins] had a nice little rally, but they’re giving a lot of it back, which is exactly what happened in the last cycle. Altcoins rallied. They rallied a lot, and ...