Top Analyst Benjamin Cowen Issues Warning on Litecoin Amid LTC Halving Event, Updates Outlook on Bitcoin

Top analyst Benjamin Cowen has issued a warning on Litecoin in light of its halving event. He has also updated his outlook on Bitcoin.

"Renowned Analyst Cowen Forecasts Price Shift for Peer-to-Peer Payments Network After Halving Event"

With a substantial Twitter following of 754,600, Cowen shares his insights on Litecoin's price trajectory after the recent halving event, which saw miners' rewards slashed in half.

Having previously indicated a potential peak for LTC in June/July of its halving year, Cowen advises caution as the post-halving period unfolds. Historical patterns suggest that investors should moderate their expectations on LTC until the post-halving year in 2025. As the crypto market witnesses this significant event, strategic decision-making becomes crucial for investors seeking to capitalize on potential opportunities.

Source: Benjamin Cowen/Twitter

"Litecoin's Market Trend Ahead of Halving: A Prominent Chart Analysis by Cowen"

Cowen's chart reveals a noteworthy pattern for Litecoin, with rallies occurring approximately two months before a halving event, followed by a year-long decline before experiencing a subsequent rally.

As of now, Litecoin is trading at $87.46, showing a 6.8% decrease in the past 24 hours.

Cowen further examines Bitcoin's market performance, emphasizing the outflow of altcoin market liquidity into BTC, which sustains Bitcoin's ongoing rally. This phenomenon is evident in the declining total market cap of altcoins (TOTAL3).

With BTC on the rise and altcoins experiencing downturns, Cowen highlights the theory of the BTC rally being fueled by the conversion of alts to BTC. Historically, during the pre-halving year, a turning point is reached where alt liquidity is no longer sufficient to sustain BTC's rally. As investors strategize their crypto portfolios, these valuable insights offer crucial information to navigate the market's dynamics and capitalize on potential gains.

Source: Benjamin Cowen/Twitter

"Cowen's Compelling Analysis: TOTAL3 Market Cap Decline and BTC.D Increase Validate Investment Thesis"

Cowen presents an insightful observation, linking the TOTAL3 market cap decline and the surge in Bitcoin's dominance (BTC.D) as compelling factors supporting his investment thesis.

Color-coded based on BTC risk, the total crypto market capitalization showcases a sideways trend over the past year. During this period, while BTC experienced an upward trajectory, a significant number of altcoins faced downward pressure. Consequently, BTC dominance remarkably increased from 39% to 49%.

Cowen's data-driven approach highlights the dynamic relationship between BTC and altcoins, providing investors with valuable insights to optimize their investment strategies in the ever-evolving crypto market.

Source: Benjamin Cowen/Twitter

"Cowen Cautions Investors: Historical Pre-Halving Patterns Indicate Potential Bitcoin Market Correction"

Drawing from historical price action during pre-halving years, Cowen sounds an alert about a potential market correction for Bitcoin.

In the past three pre-halving years, Bitcoin has experienced a dip below its bull market support band, typically occurring in August/September.

While there are no guarantees that the same pattern will unfold this time, Cowen emphasizes that a strong possibility exists. As investors navigate the crypto market, staying vigilant to historical trends can aid in making informed decisions to optimize their portfolios.

Source: Benjamin Cowen/Twitter

"Cowen's Insightful Analysis: Historical ROI Indicates Possible August Dip for Bitcoin"

Cowen highlights that his prediction of an August dip for Bitcoin is further supported by the historical average return on investment (ROI) during pre-halving years. Notably, the ROI for July closely aligned with previous Julys. If August follows a similar pattern, Bitcoin could potentially experience an ROI of more than -20%, as projected by Cowen.

As previously mentioned, Bitcoin's ROI in July of pre-halving years recorded at -4.74%, while the actual return for July 2023 was -4.09%. Providing additional context, Cowen points out that the average return of Bitcoin in August during pre-halving years stands at -21.3%.

For investors closely monitoring the crypto market, Cowen's data-driven insights offer valuable guidance to navigate potential risks and opportunities during this crucial period.

Source: Benjamin Cowen/Twitter

Bitcoin Price Update: Current Trading at $29,187, Marking a 1.8% Dip in 24 Hours

Stay informed with the latest on Bitcoin's trading price, currently standing at $29,187, reflecting a marginal 1.8% decline in the past 24 hours. As investors closely monitor the market, this real-time data provides valuable insights to optimize their investment strategies and capitalize on potential opportunities.

Aug 03, 2023

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