CandleFocus Analyst Benjamin Cowen Says One Catalyst Could Trigger ‘One More Push Higher’ for Bitcoin Before End of 2024
2024-12-05
Author: Content Editor
Cryptocurrency analyst Benjamin Cowen believes that Bitcoin could experience a further price increase before the end of the year. He suggests that if Bitcoin follows its historical cyclical pattern of booms and busts after every four-year halving event, it could see another push higher. Cowen also notes that a lower or unchanged US unemployment rate could be positive for Bitcoin, as the digital asset has displayed an inverse relationship with employment data in the past. If the unemployment rate remains relatively stable, it could favor Bitcoin's continued upward movement. However, if there is a reason for Bitcoin to go down, such as a negative catalyst, its price could be affected. At the time of writing, Bitcoin is trading at $96,607.
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