Crypto Analyst Expects Bitcoin Downturn To $23K, Altcoin Market Braces For Impact
Portfolio Pulse from Murtuza Merchant
Crypto analyst Benjamin Cowen predicts a potential downturn for Bitcoin (CRYPTO: BTC) to a target of $23,000. This comes amid concerns about Bitcoin's recent lows around the $25,000 mark. Cowen suggests that surpassing these lows could severely impact the altcoin market. He also hinted at a potential topping pattern for Bitcoin's current market behavior.
October 12, 2023 | 2:11 pm
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Bitcoin's price could potentially drop to $23,000 according to analyst Benjamin Cowen. This could also have a severe impact on the altcoin market.
The prediction of a potential downturn for Bitcoin to $23,000 by analyst Benjamin Cowen is a negative signal for the cryptocurrency. If these predictions come true, it could lead to a sell-off in the market, driving the price down. Furthermore, the impact on the altcoin market could be severe as they often follow Bitcoin's price movements.
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IMPORTANCE 80
RELEVANCE 100