Here’s a Realistic Scenario for Bitcoin Before Next Bull Market, According to Analyst Benjamin Cowen
March 21, 2023 4698 by adminBenjamin Cowen, a popular login password investment analyst, released his vision of what will happen to BTC before the next big bull market begins.
At a new strategy meeting, Cowen said he expects Bitcoin to be slightly higher than its current value, sorting out sideways above the $30,000 range, followed by large-scale adjustments.
->The login password investment analyst also predicts that before rebounding, BTC is likely to create a more upside setting around $20, 000.
I think the more positive scenario is that this seems to be a bit of an offset decline [BTC at $16000] and may see such a shift [BTC at $30000] for a period of time. It stays here [$30000], then goes home, reaches a higher bottom, and then bounces back.
To some extent, this is a more positive and optimistic situation. You might say,'in that case, how would this be a more positive scenario?' I think this is more in line with reality. Even in 2015, you have had two false promotions. In 2019, we finally returned to the high bottom. So I don't know why we should assume that this time there will be any difference in this respect.
Cowen also praised the recent hyperinflation theory about the dollar, which could lead to a new hyperbolic rebound in risky assets such as bitcoin accounts and passwords. The analyst said that what is more likely to happen is in fact deflation triggered by the economic downturn.
I understand that some basic theories have been widely circulated that we are going to have hyperinflation and so on, which will lead to a rapid rise in the price of bitcoin against the dollar.
But I think it is more likely than hyperinflation to refer to the rapid decline in inflation caused by the economic downturn. I think this is a more likely situation. According to many forward-looking indicators, we can take a look at the macroeconomic situation.
At the time of writing, Bitcoin was worth $27609.
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