The post Bitcoin To Enter Bear Market In Coming Months – Predicts Crypto Analyst Benjamin Cowen appeared first on Coinpedia Fintech News
In a new video, Cowen predicts that Bitcoin will plummet over the next few months ahead of the halving event scheduled for next year. Similar to the past, Bitcoin has displayed a similar pattern in the months before previous halvings. Cowen believes that Bitcoin will have one more scare later this year, or at the latest, early next year, right before the halving event.
Cowen is putting his theory to the test by noting that Bitcoin had similar trends in 2015, 2019, and 2020. He also warned that in case of a correction in the market, altcoins would be more severely affected than Bitcoin due to their lower liquidity. During a correction, lower liquidity assets will take a harder hit than those with more liquidity.
The analyst warns that during a pre-halving year, liquidity in the altcoin market dries up quite substantially, so investors should exercise
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