Fed Money Printing Likely What Spurs Ethereum and Altseason, According to Analyst Benjamin Cowen
Closely followed crypto analyst Benjamin Cowen says that a shift in monetary policy will most likely be what finally triggers an “altseason,” or a period where altcoins vastly outperform Bitcoin (BTC). In a new strategy session, Cowen overlays the Fed balance sheet with Ethereum (ETH) versus Bitcoin (ETH/BTC) and notes that in previous market cycles, altseasons didn’t kick off until the Fed ended quantitative tightening (QT) and increased the assets on its balance sheet. “What allowed for [the forecast] was just the understanding of tighter monetary policy, and knowing that last cycle we did not see ETH/BTC bottom or the inverse of that top, we didn’t see the BTC/ETH valuation top until the Fed ended quantitative tightening… And so, you can see that the Fed has been doing the same exact thing this cycle and throughout this process just like last cycle, ETH has lost value to Bitcoin. Now the same could be said about a lot of alt...