Crypto strategist Benjamin Cowen predicts that Bitcoin will experience a single-digit percentage drop before rallying to complete a bearish pattern. He believes that there is a good chance that Bitcoin will drop below its prior low of $24,800 before experiencing a relief rally into the death cross.
However, any price increases are expected to be short-lived, and Bitcoin is likely to remain in a downtrend for the rest of the year. Cowen also notes that the current death cross formation is similar to the one that occurred in 2019 before the previous Bitcoin halving.
All Comments