Analyst: Ethereum is repeating the 2019 market cycle, ETH/BTC needs monetary policy changes to hit bottom

According to Golden Finance, cryptocurrency analyst Benjamin Cowen recently stated that Ethereum (ETH) will have to go through a "painful period" before rebounding, and its current trend is repeating the pattern of the 2019 market cycle. Cowen explained to its 886000 subscribers in the latest YouTube video that "ETH/BTC price pairs require a change in monetary policy to bottom out, and to achieve a change in monetary policy, one must go through pain. Welcome to the painful period, this is the ultimate necessary pain. Looking back at the previous cycle (2019), ETH/BTC hit bottom only after ETH/USD fell below support levels Cowen pointed out that the time when Ethereum fell below support levels against the US dollar in 2019 happened to be just before the Federal Reserve ended its quantitative tightening. He believes that everything that happened in the previous cycle "basically repeats itself in this cycle, with a longer time span", and most price points in the current cycle are about 10 times higher than the market in 2019. The reason why people find it difficult to manage this cycle and feel so different is that monetary policy has never changed in this cycle. In the previous cycle, we saw changes in monetary policy a year before the halving. Now we have entered the year after the halving, but we have not seen any changes in quantitative tightening policy. They have slightly reduced and slowed down their pace, but have never really stopped