Popular cryptocurrency analyst Benjamin Cowen made important predictions about the data that can be considered a reversal signal for Bitcoin (BTC) in 2023.
Benjamin Cowen revealed his important predictions for the reversal signal in his new YouTube video, which includes Bitcoin predictions for 2023. Cowen has nearly 800,000 followers. a signal that marks the end of the bear market for vigilant to be said it should.
Stating that we are close to the bottom level, the analyst said that the position of Bitcoin 2014 and 2018 He stated that it is similar to bear market cycles, but is not yet completed in percent:
Bitcoin is down about 75% from its all-time high. In the past bear cycles, the percentage of decline reached up to 80%. If we see this bearish percentage start to reach the level we saw in previous bear markets, it will at least be a sign that things can finally start to turn around.
on bitcoin price 80%Stating that he will accept the . fluctuations is also following closely.
Cowen, the total value of the cryptocurrency market Not many assets other than Bitcoin 2014 in the bear market 78% and 2018 in the bear market 87% noting that the current bear market 72%He stressed that there was a decline. The analyst also stated that the total value of the cryptocurrency market needs to fall a little more to find the bottom, looking at the average of the past two bear markets.
On the other hand, considering the dominance of Bitcoin in the crypto money market, which is close to the bottom of this situation, Cowen said, In a possible decline, altcoins will experience more depreciation. waiting for why.
