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 <p>Widely followed crypto analyst Benjamin Cowen says that a lot of altcoins are being primed for another collapse some time this year without a recovery.</p> 
 <p>In a new video update, Cowen tells his 787,000 YouTube subscribers that an “altcoin reckoning” is on the horizon – one that many crypto assets won’t ever come back from.</p> 
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 <p><em>“While I would agree the altcoin market as a whole will eventually go back up, there’s a good chance that a lot of the altcoins today are not part of that. Some of them probably will be, and some of them probably will see new highs, eventually. </em></p> 
 <p><em>Unfortunately, many of them will likely not see new highs and so you could have sort of a scenario where the altcoin market just sort of spends some time in [$323.5 billion] range, maybe eventually comes back down to [$290 billion range], and then just capitulates and [falls even further] into the depression phase before coming out of it in 2024.”</em></p> 
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   Source: Benjamin Cowen/YouTube
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 <p>According to the strategist, altcoins will have a “renaissance” after their depression phase when the Federal Reserve pivots on its monetary policies. Cowen says he expects the Fed to reverse course sometime next year.</p> 
 <p><em>“I do think [the depression phase] is coming, and then I think what comes after is the altcoin Renaissance, but that doesn’t come until the Fed pivots, more than likely. I don’t think the Fed is going to pivot this year. There’s a chance that they pivot this year, but I just don’t think they’re going to.</em></p> 
 <p><em> If they do pivot this year, that doesn’t mean the altcoin market is going to immediately go back up. It could take a little while because if they do pivot this year, they would only cut a very, very small amount.”</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/many-altcoins-won-t-recover-after-massive-collapse-says-crypto-analyst-benjamin-cowen-here-s-his-forecast-tbt63886.html">https://thebittimes.com/many-altcoins-won-t-recover-after-massive-collapse-says-crypto-analyst-benjamin-cowen-here-s-his-forecast-tbt63886.html</a></p>

Many Altcoins Won’t Recover After Massive Collapse, Says Crypto Analyst Benjamin Cowen – Here’s His Forecast

TheBitTimes

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