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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/altcoin-market-faces-potential-downturn-analyst-benjamin-cowen-warns" rel="noopener noreferrer nofollow">Altcoin Market Faces Potential Downturn, Analyst Benjamin Cowen Warns</a><br></p>
<p style="text-align: justify">Benjamin Cowen, a widely recognized market analyst, has recently shared insights suggesting a potential downturn in the altcoin market relative to <a href="https://en.bitcoinhaber.net/bitcoin-hits-record-peak-as-investor-interest-soars" rel="noopener noreferrer nofollow">Bitcoin</a>. Unlike <a href="https://en.bitcoinhaber.net/ethereum-awaits-a-surge-with-upcoming-enhancements-and-analysts-bold-price-forecast" rel="noopener noreferrer nofollow">Ethereum</a> and stablecoins, most altcoins have been losing value against Bitcoin, a trend that Cowen believes might lead to an imminent market crash. This analysis, based on the TOTAL3 chart which tracks the performance of altcoins excluding Bitcoin and Ethereum, was presented to his nearly 800,000 YouTube followers.</p>
<h2 id="cowen-cites-total3-chart-for-altcoin-performance-analysis">Cowen Cites TOTAL3 Chart for Altcoin Performance Analysis</h2>
<p style="text-align: justify">Cowen’s analysis points to a general downward trajectory for altcoins when compared to Bitcoin. He suggests that the recent upward movements observed in the altcoin market are likely the last before a significant drop. The TOTAL3 chart, a key tool in Cowen’s analysis, shows these trends clearly, indicating that most altcoins are approaching new lows relative to Bitcoin.</p>
<h2 id="historical-patterns-suggest-a-repeat-of-2019-trends">Historical Patterns Suggest a Repeat of 2019 Trends</h2>
<p style="text-align: justify">Drawing parallels with 2019, Cowen notes that a similar pattern occured where after a brief rise in June, there was a noticeable decline. He predicts a repeat of this cycle, with altcoins possibly losing more ground during the summer months. This seasonal trend, along with reduced trading volumes as investors divert their attention to summer activities, could exacerbate the decline.</p>
<p style="text-align: justify">Despite these observations, Cowen acknowledges the uncertainty of predictions, as past patterns do not necessarily guarantee future outcomes. Furthermore, despite recent corrections, many altcoins remain significantly below their peak prices, with some 80% below their highest values. Therefore, while Cowen’s insights are compelling, they are not without their limitations.</p>
<h3 id="points-to-take-into-account">Points to Take into Account</h3>
<ul style="text-align: justify">
 <li>Cowen’s analysis primarily involves the TOTAL3 chart focusing on altcoin performance excluding Ethereum and stablecoins.</li>
 <li>The anticipated decline in altcoin value could coincide with lower summer trading volumes.</li>
 <li>Investors should balance Cowen’s predictions with other market factors, including potential macroeconomic changes like US interest rate cuts.</li>
</ul>
<p style="text-align: justify">Ultimately, while Cowen’s predictions provide a valuable perspective on potential market movements, investors should consider multiple factors and remain cautious, especially given the volatile nature of <a href="https://en.bitcoinhaber.net/the-dawn-of-a-crypto-bull-market-key-indicators-signal-upward-trend" rel="noopener noreferrer nofollow">cryptocurrency</a> markets.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/altcoin-market-faces-potential-downturn-analyst-benjamin-cowen-warns" rel="noopener noreferrer nofollow">Altcoin Market Faces Potential Downturn, Analyst Benjamin Cowen Warns</a></h5>

Altcoin Market Faces Potential Downturn, Analyst Benjamin Cowen Warns

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