Investors in the cryptocurrency space are eagerly awaiting the halving of Bitcoin in order to fuel future market growth. However, top cryptocurrency expert and trader Benjamin Cowen
Cowen has highlighted a trend that could potentially lead to a significant decline in the crypto asset’s price when the Bitcoin halving event commences, which suggests that BTC could be poised for a decline in the coming days.
According to Cowen, should Bitcoin continue to follow the same trajectory as it entered the
In response, a pseudonymous user commented on Cowen’s post and reminded the expert that he forgot the arrow backup. Responding to the user, Cowen stated that he believes the outcome of the next phase will depend on whether or not ALT/BTC pairs have collapsed by then.
Furthermore, he affirms there could be a move on the
It is worth noting that the Bitcoin halving event is forecasted to take place within the next 11 days. Given Bitcoin’s halving previous significant impact on price,
The expert’s prediction has sent quite a frenzy in the crypto community, with analysts like Peter Brandt supporting his insights. Peter Brandt
As the halving event approaches, the cryptocurrency data analytics platform Kaiko has
According to the platform, in the past, the short-term price effect of
At the time of writing, Bitcoin’s price was up by 8% in the past 7 days, valued at $70,770. Its overall market cap is down by over 2%, however, while its trading volume is up by over 8% in the past day.