A widely followed crypto analyst is issuing a warning that most altcoins are in the midst of severe downtrends that will ultimately keep them below their all-time highs forever.
In a new video update, crypto trader Benjamin Cowen tells his 787,000 YouTube subscribers that most altcoins currently find themselves in “serious declines” that are being overlooked due to Bitcoin’s (BTC) relative resilience.
Cowen also notes that if Bitcoin were to decline, it would crush altcoins even worse.
“A lot of altcoins in the top 100 that are in pretty serious declines right now and a lot of people are completely ignoring it… The only reason people are ignoring it is because Bitcoin’s doing okay so it’s easy to discount [altcoins]…
If you want exposure to the cryptoverse in the pre-halving year, Bitcoin can often offer you a decent amount of exposure to the upside while also minimizing your downside risk in the altcoin market. Some people think that that means that Bitcoin can’t go
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