{"id":145153,"date":"2023-09-01T14:50:35","date_gmt":"2023-09-01T09:20:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=145153"},"modified":"2023-09-01T14:50:35","modified_gmt":"2023-09-01T09:20:35","slug":"bitcoin-primed-to-plummet-by-double-digits-if-history-repeats-itself-says-benjamin-cowen-here-are-his-targets-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-primed-to-plummet-by-double-digits-if-history-repeats-itself-says-benjamin-cowen-here-are-his-targets-crypto-news\/","title":{"rendered":"Bitcoin Primed To Plummet by Double-Digits if History Repeats Itself, Says Benjamin Cowen \u2013 Here Are His Targets &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Crypto analyst Benjamin Cowen is expressing bearish sentiment on Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/currencies\/bitcoin\">BTC<\/a>) despite the recent bounce in the markets.<\/p>\n<p>Cowen <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=P2R36vE6n-A\">tells<\/a> his 786,000 YouTube subscribers that Bitcoin is likely to follow the bearish price action it has exhibited every pre-halving year.<\/p>\n<p><i>\u201cIs this time different? Are the narratives true that this time is different and Bitcoin will get above its 20-week SMA [simple moving average] and hold it as support going into Q4 of the pre-halving year? Will it be different? I doubt it.\u201d<\/i><\/p>\n<figure id=\"attachment_257824\" aria-describedby=\"caption-attachment-257824\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-257824\" class=\"wp-caption-text\">Source: Benjamin Cowen \/ YouTube<\/figcaption><\/figure>\n<p>Cowen says that for the rest of this year, Bitcoin is likely to remain within a range marked at the top by a price last reached in May of 2022 and at the bottom by a price previously recorded in November of 2020.<\/p>\n<p><i>\u201cI will remain firm on my view here that we spent about half a year going up and half the year going down. I have previously said that price action in 2023, in my opinion, will likely be contained to within $12,000 to $35,000 \u2013 meaning I don\u2019t think that the price of Bitcoin will go outside of those bounds in 2023. I don\u2019t think it\u2019ll go lower than $12,000.\u201d<\/i><\/p>\n<p>Bitcoin is trading at $27,448 at time of writing.<\/p>\n<p>According to the widely followed analyst, the July high of around $31,800 is likely to be the top for Bitcoin this year.<\/p>\n<p><i>\u201cI also think there\u2019s a decent chance that the yearly highs are in as I\u2019ve made [it] clear that we spend about half the year going up and half the year going down.\u201d<\/i><\/p>\n<figure id=\"attachment_257825\" aria-describedby=\"caption-attachment-257825\" style=\"width: 936px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-257825 size-full\" src=\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2023\/08\/BTC-0830-BC-2.png\" alt=\"\" width=\"936\" height=\"631\" \/><figcaption id=\"caption-attachment-257825\" class=\"wp-caption-text\">Source: Benjamin Cowen \/ YouTube<\/figcaption><\/figure>\n<p><iframe loading=\"lazy\" title=\"Bitcoin: Dubious Speculation\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/P2R36vE6n-A?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"color: #ffffff\">I<\/span><\/p>\n<p><em><span style=\"font-size: 13pt\">Don&#8217;t Miss a Beat \u2013 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/join-the-daily-hodl-email-list\/\">Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Check <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/crypto-markets\/\">Price Action<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Follow us on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheDailyHodl\">Twitter<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/thedailyhodl\/\">Facebook<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/thedailyhodl\">Telegram<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Surf <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/daily-hodl-mix\">The Daily Hodl Mix<\/a><\/span><\/em><br \/>\n<\/p>\n<div class=\"hideinamp\">\n<p><a rel=\"nofollow noopener\" target=\"_blank\" class=\"maxbutton-4 maxbutton maxbutton-check-out-the-latest-headlines-bigger\" href=\"https:\/\/dailyhodl.com\/news\/\"><span class=\"mb-text\">Check Latest News Headlines<\/span><\/a><\/p>\n<p>&amp;nbsp<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\" width=\"800\" height=\"99\" \/><\/p>\n<h6>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.<\/h6>\n<\/div>\n<p><span style=\"font-size: 10pt\"><em>Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst Benjamin Cowen is expressing bearish sentiment on Bitcoin (BTC) despite the recent bounce in the markets. Cowen tells his 786,000 YouTube subscribers that Bitcoin is likely to follow the bearish price action it has exhibited every pre-halving year. \u201cIs this time different? Are the narratives true that this time is different and Bitcoin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":145154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-145153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=145153"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145153\/revisions"}],"predecessor-version":[{"id":145759,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145153\/revisions\/145759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/145154"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=145153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=145153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=145153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}