Altcoins Facing Depression but Analyst Predicts Renaissance
Discover how crypto analyst Benjamin Cowan predicts a depression phase for altcoins before a potential renaissance. Learn about the influence of the US economy and Federal Reserve on altcoin behavior.
Posted 10 months ago in Altcoins
Crypto analyst Benjamin Cowan predicts that altcoins will undergo a depression phase before experiencing a resurgence. According to Cowan, the US economy will play a significant role in influencing the fate of altcoins. In a recent YouTube video, Cowan explains that many altcoins may not survive the ongoing crypto winter and suggests that they will plateau in the coming months, stretching into 2024. However, he believes that a renaissance for altcoins will occur in 2025.
Cowan emphasizes that some altcoins will reveal their true value during this period, while others may disappear or fail to reach new all-time highs in the next bull market. He points out that similar trends have been observed in previous market cycles.
Unlike Bitcoin, Cowan argues that not all cryptocurrencies will experience all-time highs during bull markets. He highlights the influence of the US Federal Reserve (Fed) on altcoin behavior. Cowan states that the Fed's monetary policy has a profound impact on the cyclic nature of altcoins. However, he does not expect the Fed to change its current course, unless there are significant issues with the US economy.
The analyst suggests that any alteration in the Fed's policy would likely be accompanied by a recession, which generally has a bearish effect on altcoins. Cowan also mentions that the fight against inflation is ongoing and that rising prices may prompt a policy change.
Last updated 9/27/2023, 7:24:23 PM
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