CandleFocus ‘Very Dubious’ Speculation Suggests Bitcoin Could Follow Nasdaq ETF Rallies of 1999: Benjamin Cowen
2025-01-08
Author: Content Editor
Cryptocurrency analyst Benjamin Cowen suggests that the price of Bitcoin (BTC) could resemble the performance of the Invesco QQQ exchange-traded fund (ETF) during its first 13 months following launch. Cowen points out that the QQQ ETF experienced a local peak after increasing by 150% in its first year. He notes that if Bitcoin follows a similar pattern, a 48% drop could be possible after reaching $120,000. However, Cowen acknowledges that this is speculative and highlights the need to watch for reactions if Bitcoin reaches that price level in the coming weeks.
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