Renowned crypto analyst Benjamin Cowen has issued a warning, suggesting that Bitcoin may experience significant price volatility as it trades near its all-time highs. Cowen cautions that a downtrend could emerge in December, approximately one month after the U.S. general elections.
Possible Downturn Scenario
Cowen predicts a possible Bitcoin price decline of between 12% and 46% in early December. Such a downturn could generate uncertainty and fear across the market. He advises investors to exercise caution during this period, as this potential drop may impact the broader market sentiment.
However, Cowen notes that any anticipated decline is likely temporary. He remains optimistic about Bitcoin’s potential to reach new highs by 2025, especially as the U.S. Non-Farm Payroll report could drive market fluctuations in the months ahead.
Market Outlook
Currently trading at $73,813, Bitcoin sits about 2% below its all-time high of $75,400. Cowen anticipates that Bitcoin may stabilize around these levels in the near term, but he warns that a dip in early December could make some investors uneasy.
“A possible dip in early December may create some investor anxiety, but I believe it will be temporary, and we may see new peaks by 2025,” Cowen remarked.
Insights for Investors
Despite the potential correction, Cowen stresses that this downturn shouldn’t be seen as a sign of Bitcoin’s mining cycle nearing its end. Rather, he suggests the market could undergo a “soft landing,” allowing for continued resilience in Bitcoin’s price.
Cowen advises investors to closely monitor market movements and be cautious of sudden drops. He emphasizes Bitcoin’s long-term potential to remain strong, even if short-term volatility occurs.
The recent developments in Bitcoin’s price provide an opportunity for investors to review their strategies. Cowen’s insights underscore the importance of carefully observing market trends and making informed adjustments.
For more insights on market movements and expert predictions, stay tuned to Dey There for the latest updates.
Bitcoin, volatility, Benjamin Cowen, Non-Farm Payroll, December
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