According to BlockBeats news, on March 14th, analyst Benjamin Cowen told subscribers in his latest report that the current situation for ETH is similar to that of 2019 and may require a change in the Federal Reserve's monetary policy to allow the ETH/BTC exchange rate to bottom out and rebound.
Cowen stated that the price of ETH fell below its support level in 2019, coinciding with the end of the Federal Reserve's quantitative tightening policy. People feel that the market is very difficult to make money in this cycle because the monetary policy has not changed during this cycle. In the previous cycle, the market witnessed a shift in monetary policy one year before the halving. At present, we are in the year after the halving, but there has been no change in the quantitative tightening policy. The Federal Reserve has only slightly reduced its size and slowed down its pace, but it has never truly stopped.
