Amidst ongoing Bitcoin market fluctuations, experts Benjamin Cowen and Axel Bitblaze share their predictions on possible future scenarios.
Cowen's Scenarios for Bitcoin Market
Benjamin Cowen, founder of IntoTheCryptoverse, outlines three potential scenarios for Bitcoin. In the first scenario, if Bitcoin rises above the 20-week average, it could become the market leader again, similar to its role in 2017, leading to a capital shift from altcoins to Bitcoin.
Bitblaze's Forecasts for the Year-End
Analyst Axel Bitblaze suggests that September may be weak for Bitcoin, while the fourth quarter is historically prosperous. He points to a potential shift in the current cycle due to the emergence of Bitcoin ETFs, which might absorb market supply and support prices.
Prospects for Altcoins
Regarding altcoins, Cowen warns of potential losses regardless of the scenario, highlighting the risks for investors if Bitcoin continues to show weak performance moving forward.
In the face of market uncertainty, experts caution about potential significant fluctuations and advise paying close attention to Bitcoin's dynamics, as this could have substantial implications for altcoins.
