Is Bitcoin Headed For A Crash? Analysts Cite Possible Downtrend
Bitcoin investors are anticipating the halving event, but expert Benjamin Cowen warns of a potential price decline based on historical patterns. He suggests that Bitcoin may follow a downward trend post-halving, with the outcome possibly hinging on ALT/BTC pairs. The halving is expected in 11 days, and if Cowen's prediction holds true, it could diverge from the anticipated price surge. Analysts like Peter Brandt support Cowen's insights, and Kaiko's perspective indicates that while short-term effects are inconsistent, historical data suggests a bullish trend 9-12 months after halving. At present, Bitcoin's price has risen by 8% in the past 7 days, with a market cap decrease of over 2% and a trading volume increase of over 8% in the past day.
