The Fed Could Decide Start of Next Bitcoin (BTC) Bull Run, According to Analyst Benjamin Cowen – Here’s How
Crypto analyst Benjamin Cowen says the U.S. Federal Reserve will play an integral role in deciding when the next Bitcoin (BTC) bull market kicks off.
In a new strategy session, Cowen tells his 786,000 YouTube subscribers that BTC is currently flashing a mixed bag of indicators.
According to Cowen, some metrics suggest the top crypto asset hit its bottom already and others indicate it has further to drop.
“You have to be open-minded. Is it a double bottom, is it a higher low, or is it a lower low? And just for the record, remember last cycle, it was a higher low… [The] cycle before that, it was a double bottom. What is it this cycle?
Last cycle it was a higher low into a recession, but remember, the recession was really short-lived because we’d just printed $6 trillion. So again, I don’t think the Fed’s going to print as quickly this time, and therefore you do sort of run the risk of potentially a lower low, but it just depends on how aggressive the Fed is, right? How much do they mean ‘higher for longer’? Are they willing to hold rates there even in the midst of markets struggling?”
At a Fed-sponsored economic policy symposium in Jackson Hole, Wyoming last week, Fed Chair Jerome Powell said inflation was still too high and that the central bank was “prepared to raise rates further if appropriate.”
BTC is trading at $26,142 at time of writing. The top-ranked crypto asset by market cap is down more than 0.5% in the past 24 hours.
I
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post The Fed Could Decide Start of Next Bitcoin (BTC) Bull Run, According to Analyst Benjamin Cowen – Here’s How appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
