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Since the beginning of 2022, the markets for cryptocurrencies have exhibited a variety of price movements, and they have exhibited behavior that is in contradiction to what was being projected. Taking into account the most recent price action, the Bitcoin (BTC) price managed to achieve the much-required 10% increase during the trading session before yesterday’s.
One of the most well-known analysts thinks that the asset is going to go through a final capitulation phase prior to the end of 2022, even if market emotions are currently spiraling upward.
Benjamin Cowen is a researcher, financial analyst, and YouTuber. Additionally, he is the founder of the analysis website and community known as “Into The Cryptoverse” in the United States. The crypto market reporting, price research, and risk analysis that are included in “Into The Cryptoverse” are all available as part of a paid subscription service.
Benjamin Cowen attended North Carolina State University and graduated with a bachelor’s degree in science in 2012, with a secondary concentration in both mathematics and physics. Following his undergraduate degree, Cowen continued his education at the University of New Mexico School of Engineering, where he earned both a Master of Science in Nuclear Engineering (2015) and a Doctor of Philosophy in Nuclear Engineering (PhD) (2018).
As of the time this article was written, he had over 71 million cumulative video views and over 720,000 subscribers. However, he also frequently offers video introductions to other cryptocurrencies on his YouTube channel. His films typically feature trend analysis and price projections.
In addition to making analytical films that can be viewed for free on YouTube, he also provides the “Into The Cryptoverse” reports, which cost money (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 comprehensive weekly reports. The founder of the blockchain firm cryptoverse, who is advocating that the star cryptocurrency is due for a significant drop this year, is cryptoverse. In a recent interview, Cowen mentioned that the trading activity that would occur during the corrective would be similar to past market volatility that occurred after the price reached an all-time high.
In a comparison of the many bear markets, it has been observed that “we spend a few months sitting at approximately 70 percent 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 ultimate capitulation,”
The actions of the Federal Reserve are to blame for the collapse of the bitcoin bull market.
The analyst who made this negative claim feels that rising inflation could be the single most crucial factor for his prediction. It is possible that the Fed will continue to take rigorous action in order to contain the rising inflation, which is currently at a level that has not been seen in 20 years. The possibility exists that the increase in interest rates may eventually have an effect on the stock market, which in turn may have an effect on the cryptocurrency market.
On the other hand, the Ethereum Merger, which is also drawing near and is anticipated to be a game-changer for the cryptocurrency space, is getting closer and closer. He has high hopes that the market’s confidence would increase if the merger is completed without any serious problems arising from the technical side of things.
“If everything happens as planned and there aren’t any 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 gone wrong in crypto this year,” said one expert. “It’s a very important event for the entire crypto space because if it goes according to plan and there aren’t any major hiccups, then I think it can provide