Analyst Benjamin Cowen Predicts Altcoin Bleed-Out Toward End of the Year – Here’s Why
A widely followed crypto analyst is issuing a warning, saying that the rest of 2024 looks less than ideal for altcoins. In a new video update, crypto strategist Benjamin Cowen tells his 813,000 YouTube subscribers that based on historical patterns, altcoins appear set to plummet near the end of the year and capitulate against Bitcoin (BTC). Cowen says the capitulation also lines up with the beginning of a new interest rate-cutting cycle. “If you connect the dots from the last cycle, 2018, 2019 to 2020, you can see that it basically tagged this trend line three times and then the third tag of the trend line ended up being the bottom. We know that this interest rate cycle, this business cycle, has taken a little bit longer and if you connect the dots again – one, two and three – the third tag of the trend line might actually occur by the end of the year and coincidentally if you look at this trend line where you connect the dots, it hits 0.25 in Q4 which is e...