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Closely followed crypto analyst Benjamin Cowen is warning that one Ethereum (ETH<\/a>) competitor may not be done correcting.<\/p>\n In a new strategy session, Cowen tells<\/a> his 788,000 YouTube subscribers that smart contract platform Cardano (ADA<\/a>) may fall lower against Bitcoin (ADA\/BTC<\/a>) due to the Federal Reserve not yet cutting interest rates.<\/p>\n \u201cIf you look at where it came into the year, it was around 1,600 sats (satoshis) and back then I said it\u2019s likely going to go to 800 sats by the summer. I was laughed off crypto Twitter essentially. Then it went to 800 sats, which, back in early 2022, is where I said the best-case scenario would be. <\/em><\/p>\n But once it got here, I was fairly convinced, and I kind of still am to some degree, that it could go lower. The reason I think it could go lower is because, again, we still haven\u2019t reached looser monetary policy yet.\u201d<\/em><\/p>\n Cowen predicts that the Fed will likely start cutting rates around March 2024, and riskier assets like ADA could start to rally against Bitcoin at that time.<\/p>\n \u201cSo the average length of a Fed pause before they start to cut is about eight months. Eight months puts you in March\u2026 <\/em><\/p>\n Once they pause and then start to go back to looser monetary policy, once you get rate cuts, that\u2019s when riskier assets like altcoins can find a durable bottom against Bitcoin.\u201d <\/em><\/p>\n ADA\/BTC is trading for 0.0000102 BTC ($0.39) at time of writing.<\/p>\n