A popular crypto analyst, Benjamin Cowen, is predicting a rough end to the year for altcoins. He believes that altcoins will plummet against Bitcoin, possibly hitting their lowest point in years.
Why the Bleed-Out?
Cowen points to historical patterns and the current economic climate as reasons for his prediction. He sees a correlation between past interest rate cycles and altcoin performance. He believes that the current cycle, which is expected to end with interest rate cuts, will see altcoins hit their lowest point by the end of the year.
Global Liquidity is Drying Up
Cowen also highlights the role of global liquidity in the crypto market. He argues that declining global liquidity, which is the amount of money available for investment, is a major factor driving down altcoin prices.
What Does This Mean for Investors?
Cowen’s prediction suggests that investors should be cautious about altcoins in the coming months. He believes that altcoins will likely experience a significant drop in value before the year ends.
Disclaimer: This is just one analyst’s opinion. It’s important to do your own research and not rely solely on one person’s predictions. The crypto market is volatile, and any investment carries risk.
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