Crypto analyst Benjamin Cowen, known for his accurate predictions, thinks altcoins are about to take a major dive. He’s predicting a “grand finale” for the altcoin market, with prices plummeting against Bitcoin.
Altcoins to Suffer Big Losses
Cowen says the altcoin market, represented by TOTAL3 (which includes all cryptos except Bitcoin, Ethereum, and stablecoins), is about to crash. He sees a pattern similar to 2019, where the market dropped before a strong rebound. He believes this time, the crash will be over by December 2024 or early January 2025.
He’s also looking at the OTHERS chart, which tracks all cryptos except the top 10 and stablecoins. This chart shows that lower-cap altcoins are losing value against Bitcoin, indicating a potential for even bigger losses.
Beware of Memecoins
Cowen warns investors to stay away from memecoins, which he calls “garbage.” He says those promoting these coins don’t care if you lose money, and they’ll quickly move on to promoting new projects.
He emphasizes that this is just his opinion and not financial advice. Investors should do their own research before making any decisions.
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