Benjamin Cowen says that Bitcoin will scare everyone with the next move that the digital asset will make. Check out the latest reports below.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $27,940.
BTC price analysis
The popular crypto analyst Benjamin Cowen says Bitcoin (BTC) will make a big move this year that will frighten a lot of people.
In a new strategy session with Altcoin Daily co-host Austin Arnold, Cowen predicts Bitcoin is going to drop in price later this year and induce panic selling.
“Everyone’s happy right now because of course the price is going up. I think what we’re going to see is we’re going to see the same thing happen again like we saw in 2015, 2019. I think Bitcoin will come back down later this year.”
He continued and said this:
“It’s going to scare a lot of people, but I think it’s going to be a fairly normal thing. And it’s just going to be the scare to get people to capitulate just before we get into the next halving. And just before we get back into quantitative easing.”
Cowen says the king crypto will likely go on a bull run come 2024 upon a change in monetary policy by the Federal Reserve.
He believed the fact that the Fed would stop raising interest rates by then as well as begin quantitive easing when the Fed injects liquidity into the markets such as by buying bonds.
Bitcoin price prediction is out
A really popular crypto analyst and trader is expressing bullish sentiment on Bitcoin.
The pseudonymous analyst said recently that Bitcoin’s rally to the key psychological level of $40,000 would be swift.
“The move from $30,000 to $40,000 BTC is going to happen a lot quicker than most people think. Plenty of people who *want* to be bulls, but are waiting for a dip will be left watching from the sidelines.”