Benjamin Cowen, a well-known crypto analyst, shared his forecast of Bitcoin's decline to the mid-$90,000 level and an expected correction in the altcoin market in the coming weeks.
Bitcoin Price Forecast
Cowen anticipates that Bitcoin will soon return to the bull market support band, indicating a price drop to the mid-$90,000s by August or September.
Expected Altcoin Correction
The analyst predicts significant weakness in the altcoin markets, with a capitulation likely for major pairs against Bitcoin, prompting possible liquidations among investors.
Market Reaction to Cowen's Predictions
Investors and analysts are closely watching market movements. Cowen's predictions have sparked interest and caution, as his past forecasts have proven accurate.
Benjamin Cowen's predictions about Bitcoin's drop and altcoin correction highlight the importance of careful market analysis and potential adjustments in investment strategies.
