Benjamin Cowen: “You Can’t Dream of $ 10,000 Bitcoin”

Popular cryptocurrency analyst Benjamin Cowen believes that bitcoin will never drop to $ 10,000 and the “bears” should abandon this “pink dream.”

In the video posted, Benjamin Cowen says the current rise in bitcoin signals a bullish market sentiment. According to him, bitcoin is beginning to “show signs of life” and now it will be extremely difficult for sellers to significantly lower the rate of the first cryptocurrency.

“We got out of the figure, out of the downtrend. Bitcoin is showing signs of life. A lot of bears dream of $ 10,000 per BTC, but I don’t think we’ll go back to that mark. Of course, bitcoin may decline, but not so much, these are just pipe dreams, ”the analyst said.

According to the analyst, many traders really dream of Bitcoin dropping to $ 10,000. It would be very attractive to buy coins at this price, but Cowan stressed that $ 10,000 is already too low, far below the range of drawdowns according to the long-term logarithmic regression model. The only time the bitcoin rate broke this range for a short time was in March 2020, when investors were selling cryptocurrencies in a panic and BTC fell below $ 4,000 for several hours.

At the time of publication, the bitcoin rate has once again exceeded $ 50,000 and the bulls are trying to gain a foothold above this mark.

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