Saturday, June 28, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Analyst Benjamin Cowen Issues Warning, Says It’s Time for Altcoins To Collapse Against Bitcoin

August 5, 2024
in Altcoin
Reading Time: 3 mins read
0 0
A A
0
Home Altcoin
Share on FacebookShare on TwitterShare on E Mail


A intently adopted crypto strategist thinks altcoins are about to witness a market meltdown in opposition to Bitcoin (BTC).

Analyst Benjamin Cowen tells his 839,200 followers on the social media platform X that altcoin holders are about to expertise ache as he believes the crypto market is intently following within the footsteps of the 2019 cycle.

In April of this yr, Cowen regarded on the complete market cap of altcoins (TOTAL3) in opposition to Bitcoin and stated the chart is a carbon copy of the 2019 cycle.

Supply: Benjamin Cowen/X

Again then, Cowen predicted that Bitcoin would see a bigger correction as soon as ALT/BTC pairs collapse, making a situation the place altcoins capitulate in opposition to the US greenback.

With the ALT/BTC chart breaking assist, the analyst says “it’s time” for the market to see an encore of the 2019 cycle.

“We should always lastly see ALT/BTC pairs break down quickly. Final cycle, they broke down one month earlier than the first charge lower, and one thing related might play out right here too.” 

Image
Supply: Benjamin Cowen/X

CME’s FedWatch Device signifies that 100% of merchants and buyers predict the Fed to chop rates of interest subsequent month.

Cowen additionally predicts that Bitcoin Dominance (BTC.D), which tracks how a lot of the full crypto market cap belongs to BTC, will soar to 60% earlier than altcoins get some reduction.

“With some indicators flashing recessionary alerts, it means the Fed will start to chop charges quickly, with a purpose to attempt to decrease the injury and hope for a gentle touchdown.

This implies BTC dominance will prime quickly (in all probability someday between Sept.-Dec. 2024).

However first, 60% dominance.” 

At time of writing, BTC.D is hovering at 56.73%, indicating that altcoins must lose much more worth in opposition to Bitcoin if Cowen’s 2019 comparability sticks.

Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Examine Worth Motion
Comply with us on X, Fb and Telegram
Surf The Each day Hodl Combine

&nbsp

Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you might incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in online marketing.

Featured Picture: Shutterstock/Warm_Tail



Source link

Tags: AltcoinsAnalystBenjaminBitcoincollapseCowenissuestimewarning
Previous Post

Federal Police Uncover Major Crypto Scam: 2,000 Aussie Wallets Hacked

Next Post

How Crypto Taxes Really Work: The Simple Truth You Need to Know | by Gaze All Over | The Dark Side | Aug, 2024

Related Posts

Financial Giant JPMorgan To Launch USD-Backed Deposit Token on Base As Coinbase’s Layer-2 Scaler Rolls Out Support for Cardano and Litecoin
Altcoin

Financial Giant JPMorgan To Launch USD-Backed Deposit Token on Base As Coinbase’s Layer-2 Scaler Rolls Out Support for Cardano and Litecoin

June 27, 2025
Bit Digital’s Shift Triggers Market Slide
Altcoin

Bit Digital’s Shift Triggers Market Slide

June 27, 2025
Ledger Retires Nano S Support After Nearly a Decade
Altcoin

Ledger Retires Nano S Support After Nearly a Decade

June 26, 2025
Altcoins Could Ignite ‘Major Pump’ if These Two Things Happen, According to Analyst Kevin Svenson
Altcoin

Altcoins Could Ignite ‘Major Pump’ if These Two Things Happen, According to Analyst Kevin Svenson

June 26, 2025
AI, Identity and the Design of Future Learning | by SourceLess Labs Foundation | The Capital | Jun, 2025
Altcoin

AI, Identity and the Design of Future Learning | by SourceLess Labs Foundation | The Capital | Jun, 2025

June 26, 2025
The Deeper Issues with Centralized Digital IDs | by SourceLess Labs Foundation | The Capital | Jun, 2025
Altcoin

The Deeper Issues with Centralized Digital IDs | by SourceLess Labs Foundation | The Capital | Jun, 2025

June 27, 2025
Next Post
How Crypto Taxes Really Work: The Simple Truth You Need to Know | by Gaze All Over | The Dark Side | Aug, 2024

How Crypto Taxes Really Work: The Simple Truth You Need to Know | by Gaze All Over | The Dark Side | Aug, 2024

Crypto Market Rout Resumes as Equities Trading Briefly Halted in Japan

Crypto Market Rout Resumes as Equities Trading Briefly Halted in Japan

Europe Fantasy Token - A Pioneering Web3-Based Fantasy Football Game

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In