Cryptocurrency markets are often unpredictable and the crypto analyst Benjamin Cowen believes that the current market conditions are no different. While the Bull Market may not be starting anytime soon, Cowen points out that April of 2021 and 2022 both marked local tops and the beginning of multi-month downtrends for Bitcoin (BTC). This could indicate that a bear market could last until late 2021 or even early 2022.

The global economic outlook might have an influence on the cryptocurrency markets. If the US economy enters a recession this could have a negative effect on cryptocurrency. Cowen notes that “the altcoin market should still bleed against Bitcoin” so investors should be cautious.

Cowen believes that the best time to be optimistic about the markets will be in late 2023 to early 2024. He advises that when “the recession risk is either avoided or it’s happened and we’re coming out of it” this could be the time to make positive moves in the market. He also suggests taking advantage of “this summer lull 2.0 where we come back in and come back down to these lower levels before ultimately putting on our rally caps”.

Overall, Cowen provides a basis of strategies that investors should consider when planning their future moves. He comments that the recovery years for the cryptocurrency markets can be “brutal for both sides” so it is important to do research and ensure the decisions being made are the right ones. Cowen ultimately advises investors to be aware of current market trends, be mindful of potential risks, and to remain cautiously optimistic when entering the markets.



Other News from Today