Home Crypto Bitcoin’s Bull Market Different From Previous Cycles, Says Analyst Benjamin Cowen –...

Bitcoin’s Bull Market Different From Previous Cycles, Says Analyst Benjamin Cowen – Here’s Why

Crypto analyst Benjamin Cowen says Bitcoin’s present market cycle is proving to be considered one of a form.

In a brand new technique session, Cowen explains to his 456,000 YouTube subscribers that Bitcoin’s increased market capitalization makes it more durable to maneuver the value dramatically.

“Each cycle, it’s going to get more durable and more durable to push it up the curve, and the rationale, once more, is as a result of the market capitalization is rising, [and] it takes exponentially extra quantity to develop the value.”

Cowen makes use of a mannequin that predicts a lengthening cycle as BTC’s return on funding (ROI) regularly diminishes.

“I all the time speculated that we would have liked establishments to go to a $100,000 Bitcoin within the first place. This is the amount that’s wanted to get us there. Again, that is the cycle of establishments, and I’ve all the time been skeptical that each establishment recognized to man goes to FOMO (concern of lacking out) into Bitcoin in 2021, and we’re all going to promote in 2022 and are available again in a few years. I don’t suppose that’s the way it’s going to work. I believe lots of establishments will proceed to pour in and this cycle goes to be considerably totally different from another cycle we’ve seen.

We’ve made lots of comparisons to the 2013 cycle. I do suppose it’s much like the 2013 cycle however elongated considerably. I believe the principle factor is that the time between varied strikes has modified on this present cycle in comparison with the one again in 2013… In reality, we’ve come again all the way down to ROIs decrease than the final market cycle.”

Cowen believes it’s doable Bitcoin might have a number of months the place it doesn’t hit new all-time highs and likewise doubtlessly dips under the $30,000 vary. He does, nonetheless, predict that Bitcoin has one other “leg” left within the present market cycle.

“I believe that we’re going to have an analogous kind of outlook as we did in 2019, the place we’re both going to go down or sideways for a short time. We’re going to have this consolidation section, after which we’re going to proceed the subsequent leg of our journey, and this can simply be one other stepping stone for us to get there. That’s in the end what I see enjoying out.” 

I

Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl should not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any loses you could incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please word that The Daily Hodl participates in internet affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

RELATED ARTICLES
- Advertisment -

Most Popular