Tag: Benjamin Cowen

Here’s How Soon Ethereum (ETH) Can Rally to Its All-Time High, According to Crypto Analyst Benjamin Cowen

by Dailyhodl

Closely followed crypto strategist Benjamin Cowen is unveiling his timeline for when Ethereum (ETH) can rally back to its all-time high of $4,865.

In a new strategy session, Cowen tells his 705,000 YouTube subscribers that Ethereum has been trading in a wide range between $2,000 to $4,000 since early 2021.

The crypto analyst argues that Ethereum’s extended consolidation has not been out of the ordinary.

“You also have to remember that that volatility is incredibly normal for an asset class that’s able to yield a 40x in about a year. If a 40x is possible in a year and then we have to consolidate for a while, oftentimes these consolidation phases can last.” 

Cowen is referring to Ethereum’s massive rally from March 2020 to May 2021 when the leading smart contract platform surged from about $100 to over $4,000.

The crypto strategist also says that Ethereum’s current price action resembles its market structure back in 2016 when the second-largest crypto also consolidate for almost a year before igniting a parabolic surge.

Using Ethereum’s 2016 market structure as a roadmap for what’s ahead, Cowen predicts a rally to ETH’s all-time high before the first half of 2022 ends.

“Qualitatively, there still remains a lot of similarities between what would happen with Ethereum back then and what is happening today. Now I should say I don’t expect Ethereum to pull off a 200x move from this point even if this does prove to just be a long sideways consolidation because that’s what it did last time. It went from $7 up to $1,400 in a relatively short period of time. I don’t expect that.

But what I would expect is, if it is going to play out, what does it mean? It means we have still a grind ahead of us. If it’s going to take us until May to get back up to the prior all-time high, which would be, I mean at this point, a lot of people would very much welcome Ethereum going back to the prior all-time highs by May.”

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Liu zishan

Source

Tagged : / / / / /

Bitcoin Will Need Help From the Stock Market To Kick Off Reversal, According to Crypto Analyst Benjamin Cowen

by Dailyhodl

A popular crypto analyst is looking at historical Bitcoin (BTC) trends as well as the US stock market to determine when the cryptocurrency might regain some positive momentum.

In a new strategy session, Benjamin Cowen tells his 705,000 YouTube subscribers that steep corrections like the one Bitcoin has experienced since reaching an all-time high above $69,000 last November can’t be expected to flip overnight.

“You should assume, based on history, anytime Bitcoin’s closing below the bull market support band, you should just assume that it’s going to be a few months before we can realistically have a shot at getting back above it…

I would say three to six months is usually a realistic timeline on actually having a shot to get back above it… We have below it for about nine weeks. We are currently in our ninth week, so a realistic time frame for getting back to the top, the conservative estimate would be three weeks… And that would basically be a best-case scenario.”

The bull market support band is a market indicator derived from the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). The band is currently hovering between $45,000 and $50,000.

Cowen adds that his best-case scenario for Bitcoin might materialize if the US equity markets rally for an extended period of time.

“What we would assume for that to happen, we’d have to see stocks be green for a few weeks. As much as we like to think that we live in a bubble where crypto does its own thing, it’s not true.

If we see the Nasdaq and the S&P continue to drop, rest assured that Bitcoin will also very likely drop as well. And it doesn’t necessarily mean there’s anything wrong with Bitcoin. Nothing’s changed fundamentally, but it might just mean that people are continuing to shift to be a little bit more risk-off rather than risk-on…

It’s not just Bitcoin. It’s everything that’s not cash.“

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/digitalart4k

Source

Tagged : / / / / / /

End of Bitcoin Downtrend? Crypto Analyst Benjamin Cowen Looks at Worst-Case Scenario for BTC

by Dailyhodl

Popular crypto trader Benjamin Cowen thinks Bitcoin (BTC) could drop quite a bit further before bouncing back up in price later this year.

Cowen tells his 700,000 YouTube subscribers that Bitcoin’s potential worst-case scenario over the next few months is based on the crypto asset’s 200-week moving average, which currently sits around $19,300.

That metric is moving up quickly, however, and by the second quarter of the year is projected to be around $23,000, according to the analyst.

BTC previously plummeted down to its 200-week moving average during the crashes in December 2018 and March 2020. The trader notes the March 2020 pandemic-induced crash actually brought Bitcoin all the way down to its 300-week moving average.

“It only lasted for about one week or so. It basically was a wick, we came back up and then we ultimately went on a year-long rally, which took us from $3,800 to over about $64,000.”

Cowen predicts BTC could recover with a “sustained bounce” after dropping all the way down to the 200-week moving average at some point in Q2 of this year.

Bitcoin is trading at $36,215.46 at time of writing, down more than 14% in the past week.

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/best pixels/S-Design1689

Source

Tagged : / / / / / /

There’s a Decent Chance Bitcoin Will Outperform Other Crypto Assets, Says Analyst Benjamin Cowen – Here’s When

by Dailyhodl

Cryptocurrency analyst Benjamin Cowen says that Bitcoin (BTC) could register higher returns than other digital assets despite having recorded lower gains relative to altcoins in 2021.

Cowen tells his 693,000 YouTube subscribers that there’s a decent chance that Bitcoin could rally and outperform other cryptocurrencies, most likely during the second half of the year.

“I don’t think it’s going to happen this month or this quarter. Probably not even in Q2.

But later this year, I do think there’s a decent probability that we will see some type of a rally where Bitcoin will be outperforming almost everything else.”

The crypto trader says his prediction is supported by the fact that Bitcoin has previously outperformed other leading crypto assets such as Ethereum (ETH) as recently as 2019.

“If you go look at the Ethereum chart you can see that starting in say February 2019, Ethereum went from about $120 to about a little over $300. So maybe about a 2.5x or something…

Yes, Ethereum went up 2.5x during that time. But the thing is, during that same time period, Bitcoin went up over 321%. That’s over 4x…

What we saw back then was we saw Bitcoin go up. And it just left everything behind. And that happens when Bitcoin goes up without going sideways.”

Cowen also says that BTC outperformed other digital assets in September 2020, consequently raising its market cap dominance to nearly three-quarters of the total industry.

“Starting in September of 2020 we saw Bitcoin go up fairly significantly. Going into the end of the year, it went up about 150%. And the dominance during that time went up from about 57% up to about 73%.”

Bitcoin is trading at $38,875 at time of writing while its market cap dominance level is 39.3%.

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/digitalart4k/Natalia Siiatovskaia

Source

Tagged : / / / / / / /

Can Cardano Continue Its Rally? Crypto Analyst Benjamin Cowen Looks at What’s Ahead for ADA

by Dailyhodl

Crypto analyst Benjamin Cowen says a handful of factors could prevent Cardano (ADA) from kicking off a bull run right now.

In a new YouTube update, Cowen tells his 692,000 subscribers that Bitcoin (BTC) is the “number one” limiting factor that could prohibit ADA’s price from surging higher.

The analyst explains that BTC controls the health of the market and while Bitcoin’s prices remain bearish, it will be hard for ADA to completely buck that trend.

ADA’s price surged from $1.19 a week ago to $1.61 at one point on Tuesday, though it has decreased back to $1.43 at time of writing.

Cowen notes ADA’s “bull market support band” ranges from $1.64 to $1.81. The bull market support band is a technical indicator that’s a combination of the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).

Says the analyst,

“You can look at that [$1.81] as some short-term resistance.”

Smart contract platform Cardano has multiple projects in the works for 2022. Input Output Hong Kong (IOHK) recently laid out plans to scale the network this year, which include the implementation of sidechains, separate blockchains connected to the main chain to allow for the transfer of assets in between them.

IOHK CEO Charles Hoskinson also recently outlined several different developments that he says will be completed this year and will enable Cardano to match the technical elements of other leading smart contract platforms.

Cowen, however, warns traders to track how successful these planned upgrades actually are.

“Do they go off without a hitch? I would encourage people to temper their expectations in the short term.

Like anything, when you have something coming out, there are going to be bumps along the way.”

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/digitalart4k

Source

Tagged : / / / / / / / / / /

Here’s a Realistic Forecast for Bitcoin After Major Crypto Correction, According to Analyst Benjamin Cowen

by Dailyhodl

A popular crypto analyst is plotting out where he sees top crypto asset Bitcoin (BTC) going after a downward market trend over the past several weeks.

In a new strategy session, Benjamin Cowen tells his 659,000 YouTube subscribers that Bitcoin has fallen below the bull market support band, which is notable because altcoins also tend to fall in price against BTC when this occurs.

“The problem is when we’re down here [current low] and have shakeouts, is that altcoins never quite recover to where they were before Bitcoin had its previous shakeout.

When Bitcoin’s above the 20-week moving average, like over here [late 2020 into early 2021], in these phases we know that altcoins can quickly recover and then they can quickly go new all-time highs.”

Moving on to addressing Bitcoin itself, Cowen thinks predictions of an epic price collapse are unlikely.

“Do I think we’re going back to $10,000 and spend a couple [of] years hanging out between $10,000 and $15,000? I do not. But I also don’t see us having a parabolic rally next week that’s going to take us to $100,000.

I just want to be realistic and keep people down to earth with realistic expectations and not just constantly expect these crazy rallies that everyone keeps predicting.

Wait, be conservative, be patient, wait for the rally to come to you.”

Source: Benjamin Cowen/YouTube

The analyst next discusses how extended market cycles would logically also include longer periods of sideways price action.

“I would still argue that if we bounce off those levels [$30,000 to $60,000] like we did back in the summer, it still looks like [we’re in] a long cycle.

We had these long reaccumulation phases last cycle [2015-2017]. They weren’t quite as long, but there were still certainly phases where Bitcoin just went more or less sideways for upwards of half a year…

Furthermore, one would expect that a cycle that is lengthened should have even longer sideways periods.”

Cowen wraps up his analysis by charting out Bitcoin’s future price moves, noting that he believes BTC will once again revisit previous all-time highs by mid-2022.

Source: Benjamin Cowen/YouTube

“What I’m looking for going forward is not a bear market that’s going to take us back to $10,000. But I am looking for Bitcoin to bottom, to go sideways, and then to start turning higher.

And then whenever that happens, whether it starts going up at $42k or $40k, or whether you even test the lows from the summer [under $30k], what I’m looking for at that point is to come back up to the prior all-time high, to break it, and then to ultimately trend higher.

And then hopefully prove that the lengthening-cycle theory is correct, and to continue along the way.”

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ne2pi

Source

Tagged : / / / / / / / /

Is Cardano Ready to Rally? Analyst Benjamin Cowen Updates Outlook on Sixth-Largest Crypto Asset

by Dailyhodl

After facing a significant price pullback since September, Cardano (ADA) is finally demonstrating “signs of life,” according to crypto analyst Benjamin Cowen.

Cowen tells his 638,000 YouTube subscribers that its critical ADA breaks back above what he calls the “bull market support band,” which is a combination of the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).

“The work we have to do is first we need to get back above the bull market support band, and if you look, it’s all the way up at $1.94-$2.05…

It’s like there’s a pulse. There’s a pulse. It’s doing something, but we’ve still got a long way to go, my friends.”

The analyst says he’s envisioning that ADA will break back to the upside sometime between now and late March.

Cardano is seeing a significant increase in users and transactions after it deployed smart contract capability in September, according to a recent blog post from Input Output Hong Kong (IOHK), the technology company responsible for building the project.

ADA is trading at $1.69 at time of writing after surging nearly 9% in the past 24 hours. However, the sixth-ranked crypto asset by market cap is still down more than 45% from its all-time high of $3.09, which it hit on September 2nd.

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dotted Yeti

Source

Tagged : / / / / / /

Is Avalanche’s Parabolic Rally Over? Analyst Benjamin Cowen Predicts Potential Price Targets for Red-Hot Ethereum Competitor

by Dailyhodl

Popular crypto analyst Benjamin Cowen is analyzing whether Avalanche (AVAX) has any gas left in the tank after its parabolic rally over the past three months.

The smart contract platform’s native token, AVAX, is trading at $117.85 at time of writing. The 11th-ranked asset by market cap hit its all-time high of nearly $145 over the weekend. The smart contract platform was trading around $13 at the beginning of August.

Cowen tells his 627,000 YouTube subscribers that AVAX is getting “somewhat extended.” However, he notes that Avalanche is at the same level of extension that it was at when it hit $60, and then it more than doubled in price.

Cowen says it would be “concerning” to see Avalanche get even more extended by continuing to rise in a short period of time.

He notes, however, that AVAX’s US dollar valuation is highly dependent on what Bitcoin (BTC) does.

“As long as Bitcoin stays above its 20-week moving average, then AXAX can continue to rally until it gets too far gone to sustain it in the short term, and then we’ll have a pullback. But as long as Bitcoin stays healthy, then, of course, AVAX can continue to make a move.”

Cowen notes that AVAX could go up another 50% against Bitcoin to reach the top of its uptrend channel against BTC. According to the analyst, such a move would price Avalanche at just over $200 if Bitcoin’s value remained steady.

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

Source

Tagged : / / / / / / / / /

Fresh Rallies to New Highs Could Be Ahead for Chainlink, According to Crypto Analyst Benjamin Cowen

by Dailyhodl

Crypto analyst Benjamin Cowen thinks that the blockchain oracle Chainlink (LINK) is undervalued.

Cowen tells his 582,000 YouTube subscribers that the decentralized network’s native token, LINK, has been one of his top holdings for a long time. He predicts LINK will continue to trend up with time, though he notes it hasn’t been surging as well as other altcoins he follows.

ADVERTISEMENT

 

Cowen says that’s because Chainlink follows a unique path compared to other crypto assets.

“Over time, LINK gains value. It almost seems to move different than the rest of the crypto asset class. I mean, how many assets were moving up during the bear market? Not very many.

How many assets put in a new all-time high [ATH] in 2019 above their 2017/2018 all-time highs? Not very many, not even Bitcoin [BTC] or Ethereum [ETH]. LINK also had a summer bubble back in August of 2020, and then it made a nice move into May of 2021.”

LINK is trading at $32.78 at time of writing, up 33.5% in the past month, according to CoinGecko. The 13th-ranked asset by market cap hit its all-time high of $52.70 in May.

Cowen says Chainlink is attempting to hold its bull market support band, which is a combination of LINK’s 20-week simple moving average (SMA) and 21-week exponential moving average (EMA).

The analyst says,

“If it holds, which I think there’s a decent chance [of], then maybe we’ll see a rally to new all-time highs.” 

Cowen also notes that LINK/USD longs have surged recently.

“You might look at that and say, ‘Well, is that a bearish thing?’ The best thing I think to do is look to see what happened last time the longs skyrocketed.

The last time they went to these levels was back at the end of December and early January. At that phase, that’s what sort of kick-started LINK’s journey from maybe $10 up to about $55, so it was a 5x move.”

LINK was trading between $11-$12 on December 31st of last year.

[embedded content]

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

ADVERTISEMENT

 

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

Source

Tagged : / / / / / /

Bitcoin’s Real Test Begins at This Price Area, According to Crypto Analyst Benjamin Cowen

by Dailyhodl

Prominent crypto market analyst Benjamin Cowen sees heavy resistance coming for Bitcoin (BTC) at an important price level.

In a recent update on Bitcoin’s price action, Cowen tells his 485,000 subscribers that given Bitcoin’s bounce off the 50-week simple moving average (SMA), currently priced just under $33,000, he would be surprised if the top crypto asset didn’t continue its run to the 20-week SMA, which is sitting right above $44,000.

ADVERTISEMENT

 

“I would be surprised, at this point, if we didn’t at least test the 20-week [SMA] … because we’ve tested it many times after bouncing off the 50-week [SMA]. If you go back in history, many of the times we’ve bounced off the 50-week, we then go to the 20-week. There’s been a lot of times when that’s happened.”

At time of writing, Bitcoin is trading at $39,655, according to CoinGecko.

Cowen says that a move for BTC above the $42,000 level, which marked the previous local top in January of this year, would likely cement a further push to the 20-week SMA.

“I would say if we’re breaking above $42,000, then we’re headed towards the 20-week [SMA]… So this was the prior local top here, right around $42,000. So that will be an interesting level to watch.

…Let’s see if the momentum can get us there because that’s where the real test begins… That’s where the fight begins.”

[embedded content]

l

ADVERTISEMENT

 

ADVERTISEMENT

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Martin Capek

Crypto Livewire – Press Releases

Source

Tagged : / / / / /
Bitcoin (BTC) $ 39,522.59 1.85%
Ethereum (ETH) $ 2,169.89 3.53%
Litecoin (LTC) $ 72.71 1.25%
Bitcoin Cash (BCH) $ 230.95 2.33%