Bitcoin

$100,000 Bitcoin Likely To Trigger 2025 Altseason, According to Analyst Benjamin Cowen

Published

10 months ago

November 20, 2024

In style crypto analyst Benjamin Cowen thinks Bitcoin’s $100,000 value might herald a shift in focus from BTC to altcoins.

Cows notes in a brand new interview with David Lin that Bitcoin’s Concern and Greed Index, which tracks market sentiment over time with values starting from 0 to 100, simply rose previous 90, indicating “excessive greed” within the crypto market.

Excessive values within the Concern and Greed Index could also be signal a attainable value correction.

Cowen predicts,

“My evaluation is that there might be a interval when [Bitcoin] The dominance is waning, however there’s additionally a great probability… that this can solely occur after Bitcoin breaks by way of that [$100,000] milestone. It have to be a milestone that many buyers take into account. I think about there are lots of people who do not need to promote till Bitcoin reaches $100,000. It appears to me that it may very well be a milestone that, when the disaster happens, curiosity will flip to another cryptocurrencies, particularly if that is accompanied by a transition from quantitative tightening to quantitative easing.”

Bitcoin is buying and selling at $92,137 on the time of writing. The best-ranked crypto asset by market capitalization is up virtually 2% up to now 24 hours.

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