“The Best Report Benzinga Has Ever Produced”
Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!
Advertorial
Crypto analyst Benjamin Cowen anticipates a possible downturn that could take Bitcoin (CRYPTO: BTC) to a target of $23,000.
Cowen’s analysis come at a time when market enthusiasts and stakeholders are keenly observing digital asset trends. Benzinga’s Future of Digital Assets event on Nov. 14 promises to be a hotspot for discussions on such pivotal market movements and predictions.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!
Also Read: Crypto VC Funding Continues To Drop Sharply In Q3 – Is the Crypto Winter Here To Stay?
Cowen expressed concerns regarding Bitcoin’s recent lows hovering around the $25,000 mark.
He anticipates that these lows will be surpassed, leading to a ripple effect that could severely impact the altcoin market.
As for the altcoin market’s precarious state, Cowen stated that it has “barely hung on to these valuations when Bitcoin has been fairly risky.”
“We’ve been in an upward trend for the first half of the year,” he added.
The analyst further speculated on Bitcoin’s current market behavior, hinting at a potential topping pattern.
“I think there is a good chance here that this is already the topping pattern that Bitcoin’s putting in,” Cowen added. Based on Bitcoin’s 2019 trends, the cryptocurrency might soon breach its recent lows, with an initial target likely set around $23,000.
Read Next: Crypto Whales Offload Over $8.5B Worth Of ETH; Analyst Eyes Critical Price Level
Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga’s exclusive event — Future of Digital Assets. Tickets are flying — get yours!
Image: Pixabay
“The Best Report Benzinga Has Ever Produced”
Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!
Advertorial
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This news is republished from another source.
