Markets.News
Analyst Benjamin Cowen is warning about Bitcoin's potential future, stating that the cryptocurrency may experience a rally until the end of the year. Cowen predicts that Bitcoin could reach a September low close to its 20-week moving average, following a pattern seen in its 2017 cycle. Concern arises if Bitcoin loses the 50-week moving average around $95,000–$96,000, as this could signal the conclusion of the current bull market. During this correction, Cowen anticipates Bitcoin absorbing altcoin liquidity, potentially leading to underperformance in altcoins until Ethereum achieves a lasting all-time high. For more details, the full article is accessible on Benzinga.com.