In the world of cryptocurrency, Benjamin Cowen is perhaps the most recent to skyrocket to 1 million followers on X. He is expecting a multi-month correction for Bitcoin and advises caution around altcoins. Cowen says Bitcoin will lose its $100,000 support level and drop back down to its bull market support band.
Previously established bullish market support band, which includes the 20-week simple moving average (SMA). It’s additionally marked by the 21-week exponential moving average (EMA). Cowen estimates this new band will be somewhere in the mid-$90,000s.
Cowen is known for sharing his crypto analysis along with AI-produced images on X. His analysis includes a bearish altcoin versus Bitcoin chart. This is a sign that altcoins are dropping in value even faster than Bitcoin.
"It may be finally time to rip the band-aid off for ALT / BTC pairs." - Benjamin Cowen
Currently, Bitcoin is trading at $10,5092. Cowen believes that the next low for Bitcoin will be around August or September.
"Will likely see BTC back at its bull market support band soon, back in the mid-$90,000 range." - Benjamin Cowen
Electric bus forecast Cowen’s electric bus forecast relies heavily on looking at the historical trends we’ve seen in recent years.
"I've mentioned for a while on Youtube that Bitcoin would likely start exhibiting some weakness around mid-June as the Q3 weakness starts to present itself." - Benjamin Cowen
Cowen calls attention to the importance of robust due diligence. This is particularly important before taking the plunge into unsafe experimental investments in Bitcoin, cryptocurrencies, or digital assets. Beyond his own show, he uses X as a platform to deliver creative, digestible insights and analysis that he shares with millions of followers. Cowen uses an amazing analytical toolkit to peel back the market layers and identify trends. One of their strategies includes using Midjourney to create images that help vividly illustrate a prediction.
