{"id":171106,"date":"2023-10-10T01:28:07","date_gmt":"2023-10-09T19:58:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=171106"},"modified":"2023-10-10T01:28:07","modified_gmt":"2023-10-09T19:58:07","slug":"most-brutal-part-of-the-market-cycle-now-unfolding-for-crypto-markets-says-analyst-benjamin-cowen-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/most-brutal-part-of-the-market-cycle-now-unfolding-for-crypto-markets-says-analyst-benjamin-cowen-crypto-news\/","title":{"rendered":"\u2018Most Brutal Part of the Market Cycle\u2019 Now Unfolding for Crypto Markets, Says Analyst Benjamin Cowen – Crypto News"},"content":{"rendered":"

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Crypto strategist Benjamin Cowen says that the crypto market is entering one of the most \u201cbrutal\u201d stages of its cycle.<\/p>\n

Cowen tells<\/a> his 768,800 followers on the social media platform X that Bitcoin\u2019s (BTC<\/a>) dominance, or its total share of the crypto market capitalization, is now going up as risk appetite for the asset class declines.<\/p>\n

\u201cWe\u2019ve been discussing this phase of the market cycle for a while. Namely, where BTC drops, but BTC dominance (BTC.D) goes up, because altcoins are dropping more. It is always the most brutal part of the market cycle.\u201d<\/em><\/p>\n

Source: Benjamin Cowen\/X<\/figcaption><\/figure>\n

In a new YouTube strategy session<\/a>, Cowen uses Fibonacci retracement levels to suggest that Bitcoin\u2019s dominance will likely peak at the 60%, as it did last cycle.<\/p>\n

\u201cI\u2019m still a believer in the 60%. It could be slightly different. Like, it could be 59%. It could be 63%. And some people say, Well, what about stablecoins? I think the stablecoin market is why it doesn\u2019t go to 65% or 70%.\u201d <\/em><\/p>\n

Bitcoin is trading for $27,464 at the of writing and BTC.D is at 51.19%.<\/p>\n

Cowen also weighs in on Ethereum (ETH<\/a>) against Bitcoin, and predicts<\/a> ETH\/BTC will grind its way down to about the 0.037 level, which is about $1,016 at time of writing.<\/p>\n

\u201cETH\/BTC collapse continues. It has been a pretty slow process so far (certainly slower than I was expecting), but the trend has in fact been down for a long time.\u201d<\/em><\/p>\n

\"Image\"
Source: Benjamin Cowen\/X<\/figcaption><\/figure>\n

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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

Featured Image: Shutterstock\/agsandrew<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto strategist Benjamin Cowen says that the crypto market is entering one of the most \u201cbrutal\u201d stages of its cycle. Cowen tells his 768,800 followers on the social media platform X that Bitcoin\u2019s (BTC) dominance, or its total share of the crypto market capitalization, is now going up as risk appetite for the asset class […]<\/p>\n","protected":false},"author":2,"featured_media":171107,"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-171106","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\/171106","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=171106"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171106\/revisions"}],"predecessor-version":[{"id":171109,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171106\/revisions\/171109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/171107"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=171106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=171106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=171106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}