Given current conditions for Bitcoin, Ethereum is unlikely to achieve recent highs in the approaching yr, says crypto analyst Benjamin Cowen.
“If Bitcoin is actually in a bear market, because it seems like it’s, it could be pretty difficult for Ethereum to get there,” Cowen said on the Bankless podcast on Tuesday.
This comes after veteran trader Peter Brandt predicted on December 19 that Bitcoin could fall as little as $60,000 by the third quarter of 2026.
However, Cowen said that if Ether (ETH) manages to reclaim its all-time high of $4,878, which it last reached in August, it could prove to be a “bull trap,” with a pointy move lower to $2,000 following a price surge.
Ether’s return to all-time high can be a 40% jump
On August 22, Ethereum briefly reached its 2021 all-time high of $4,878 before slipping right into a downtrend that saw the value fall to $2,767 in November.
According to CoinMarketCap, Ether is trading at $2,898 on the time of publication. A return to the all-time high would represent a 40.59% increase from current levels.
Benjamin Cowen appeared on the Bankless podcast on December twenty third. Source: Bankless
However, Cowen emphasized that the scenario shouldn’t be unimaginable for Ether, but is unlikely to trigger a domino effect on the broader crypto market next yr.
“The only altcoin I'm even considering this for is Ethereum. I believe numerous the opposite altcoins are form of done at this point within the cycle,” he said, adding that they’re unlikely to hit recent highs this cycle in the event that they haven't already.
Fundstrat Global Advisors reportedly warned its investors on December 17 of a possible “significant decline” in 2026, which could see Ether fall to $1,800-$2,000.
Meanwhile, crypto analyst Crypto With James said on December 16 that Ether is “not done yet” and a near-term return to all-time highs continues to be on the table.
