Popular cryptocurrency analyst Benjamin Cowen bitcoin He believes that the price will go through a dangerous period before the bullish sentiment that normally comes with the halving effect.
Posting a new video on his YouTube channel, Cowen thinks BTC will see a decline in the coming months. The analyst underlined that this situation also occurred in previous halving periods.
Bitcoin will have a tough time towards the end of this year or the beginning of next year. As we can see when we look at the previous periods, BTC is recording a decline before the halving. We experienced the same thing in 2015, we experienced it in 2019 and 2020. I think we will experience the same thing again.
Benjamin Cowenin case there is a correction in the market altcoinHe thinks that the s will be more affected by Bitcoin.
If a correction occurs, less liquid assets will be hit hard. Liquidity drops drastically in altcoins when there is a correction in the pre-halving BTC/USD pair. So when there is a correction, altcoins depreciate in both USD and BTC pair.
Koinfinans.com As we reported, according to Cowen, the market is currently in a Bitcoin season where the leading crypto asset has outperformed major altcoins so far.
We’ve actually gone very deep into the Bitcoin season here. So much so that in the last 60 days, Bitcoin [piyasa değerine göre] outperformed all other cryptocurrencies in the top 50.
You can follow the current price action here.