Analyst Benjamin Cowen Addresses Bitcoin’s (BTC) Post-Fall Side
Crypto analyst Benjamin Cowen shared his thoughts on the recent decline of the cryptocurrency market and discussed the path that Bitcoin could follow.
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Bitcoin fell sharply to the $ 30,415 level on Wednesday, according to CoinGecko. Cowen, who went to YouTube to discuss what this crazy price surge meant for BTC, says that the bullish predictions of Bitcoin’s price target for this year are waning:
Cowen says there are two fundamental theories regarding the length of Bitcoin’s current bullish cycle. The first scenario shows that Bitcoin will peak before the end of the year, and the second predicts a long bull cycle in which it will take a little longer for Bitcoin to reach its peak. Cowen agrees with the second theory:
While the cryptocurrency phenomenon says it may take time for Bitcoin to reach its peak, it adds that it provides traders, and especially those new to the cryptocurrency space, the opportunity to accumulate BTC at relatively attractive prices: