The crypto markets displayed diverse price actions ever since the beginning of 2022 & displayed a contrasting behavior to what was being predicted. Considering the latest price action, the Bitcoin (BTC) price marked the very much-needed 10% jump during the previous trading day.
While the market sentiments are coiling up, one of the well-known analysts believes the asset is due for a final capitulation phase before the end of 2022.
Benjamin Cowen is a researcher, financial analyst, YouTuber, and the founder of the “Into The Cryptoverse” analytics website and community in the United States. “Into The Cryptoverse” includes, among other things, subscription-based crypto market reporting, price research, and risk analysis.
Benjamin Cowen earned a bachelor’s degree in science with a minor in mathematics and physics from North Carolina State University in 2012. Cowen went on to get a Master of Science in Nuclear Engineering (2015) and a Doctor of Philosophy in Nuclear Engineering (PhD.) from the University of New Mexico School of Engineering (2018).
He had 720,000 subscribers and over 71 million cumulative video views as of this writing. His YouTube videos include trend analysis and price predictions, but he also occasionally posts video introductions to several cryptocurrencies.
He delivers the paid “Into The Cryptoverse” reports in addition to freely available analysis videos on YouTube (the Premium List). Members receive weekly reports that include, among other things, video updates on the state of crypto, risk analysis data, logarithmic regression analysis, price analysis, and thorough weekly reports., the founder of blockchain firm, cryptoverse, advocates that the star crypto is due for a significant drop, this year. In a recent interview, Cowen noted the correction would mirror historical price movements that it underwent after it smashed an all-time high.
“Comparision of the various bear markets, you know we spend a few months sitting at about 70% down from the all-time high, and then it’s like at the end of the year, or early the following year, we get that final capitualtion,”
FED Activity Responsible for Disrupting the Bitcoin Bull Market
The analyst here believes that raising inflation may be the most important reason behind his bearish claim. The Fed may continue to undertake stringent action to curb the raising inflation which is cemented at a 20-year high level. The hike in the interest rates may eventually impact the stock market, which could influence the crypto space as well.
On the other hand, the Ethereum Merger is also fast approaching, which is expected to be a game-changer for the crypto space. He hopes the confidence in the market may pile up if the Merger accomplishes successfully without any major technical flaws.
“It’s a very important event for the entire crypto space because if it goes according to plan and there are no major hiccups, then I think it can provide a lot of confidence in the asset class as a whole at a time when we really need that if you think about everything that’s bad, that’s happened in crypto this year,”