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© Reuters. Crypto Analyst Sets a Price Objective for Bitcoin in Case it Declines
- The founder of “Into The Cryptoverse” had set a price prediction for .
- According to Cowen, Bitcoin will be close to $12,000 in August of 2023 in case it falls.
- Bitcoin is currently exchanging hands at $23,102.15.
Many experts are attempting to predict how Bitcoin will behave In the next months. Expert on cryptocurrencies and the founder of Into The Cryptoverse, Benjamin Cowen, has established a price target for Bitcoin (BTC) in case it falls.
In a “worst-case scenario,” according to Cowen, the value of Bitcoin might fall by more than 47% from where it is at the moment.
Concretely, the market expert said that Bitcoin’s price might move up in the near future before “back-testing” a diagonal trendline. If this prediction comes true, the price of the most valuable cryptocurrency will be close to $12,000 in August of 2023.
Benjamin Cowen says in his Youtube video:
If it were August of 2023, like right around here [at $12,000], and it [currently] rallies on up [to $26,000] and then sort of sits up here for a while, and then comes back down and then that ends up being the bottom [at $12,000].
Additionally, according to Cowen, the 50-week m…
The post Crypto Analyst Sets a Price Objective for Bitcoin in Case it Declines appeared first on Coin Edition.
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