Analyst Benjamin Cowen made realistic predictions for Bitcoin after the big crypto correction. The popular crypto analyst has been speculating on where Bitcoin (BTC), the biggest cryptocurrency, is heading after a bearish market trend over the past few weeks. Details cryptocoin.com‘in.
Bitcoin predictions what is he saying?
Benjamin Cowen tells his 659,000 YouTube subscribers that Bitcoin has fallen below the bull market support band; this is notable because altcoins also tend to drop in price against BTC when this happens. Analyst says:
The problem is here [düşük] The reason is that when we are down and we have shakes, altcoins never fully return to the positions they were in before Bitcoin experienced its previous shakeup. When Bitcoin is above the 20-week moving average, like here [2020 sonundan 2021’in başına kadar]We know that during these phases, altcoins can quickly recover and then quickly rise to all-time highs.
While Cowen continues to address Bitcoin itself, predictions of an epic price crash are unlikely. He doesn’t think we’ll go back to $10,000 and spend a few years between $10,000 and $15,000. “But I also don’t see a parabolic rally next week that will take us to $100,000. I just want to be realistic and keep people realistic with realistic expectations and not constantly waiting for these crazy rallies that everyone is predicting. Wait, be conservative, be patient, wait for the rally to come to you.”
Cowen concluded his analysis by plotting the future price movements of Bitcoin, stating that he believes BTC will revisit all-time highs once again by mid-2022. Analyst: “All-time high first, break it and then move to the highest trend. And then hopefully prove that the elongation loop theory is correct and keep going along the way.”
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