Crypto analyst Benjamin Cowen is predicting a significant downturn for Bitcoin and altcoins. He’s warning his over one million followers on X (formerly Twitter) that a correction is on the horizon.
Bitcoin’s Dip Below $100,000
Cowen believes Bitcoin will break its support at $100,000, potentially falling to the mid-$90,000 range. This prediction is based on Bitcoin’s price behavior over the past two years, where it consistently weakened in the third quarter. He notes that this pattern aligns with his previous YouTube predictions. He anticipates the next low point around August or September.
Altcoins to Suffer Even More
Cowen’s forecast is even grimmer for altcoins. He expects a sharp drop in their value relative to Bitcoin, calling it a “capitulation event.” He advises investors to brace for significant losses in altcoin/Bitcoin pairs, suggesting it’s time to accept the losses and move on. Essentially, he’s saying it’s time to cut your losses on altcoins.
Disclaimer
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
