Closely followed analyst Benjamin Cowen bitcoin Share your prediction. The analyst stated that Jerome Powell’s ‘tone’ during his next speech could trigger a BTC rally.
Posting a new video on his YouTube channel Benjamin Cowenstated that if J. Powell takes an ‘optimistic’ outlook in his next speech, the price of Bitcoin could be $ 25,000.
Koinfinans.com As we have reported, he also underlined that despite a rally, it is not possible for the Bitcoin price to exceed $25,000.
“If Powell turns out to be the ‘pigeon’ next week, contrary to what we expected, things will change. That’s when we could see a break above a bull market support band ($25,000).
This conversation has the potential to act as a catalyst for Bitcoin. Of course, 40,000-50,000 dollars is a bit of a dream right now. But with volatility triggering, we could reach $25,000.”
According to Cowen, he stated that the course of the market, especially Bitcoin, still depends on the Fed’s decisions. If the Fed maintains its current position, the overall situation could improve. However, he stated that there may also be a volatility.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.