Home Altcoin Crypto Analyst Benjamin Cowen on Why He Is 'Actually Bearish on the Altcoin Market' – CryptoGlobe

Crypto Analyst Benjamin Cowen on Why He Is 'Actually Bearish on the Altcoin Market' – CryptoGlobe

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On 30 December 2022, extremely revered crypto analyst Benjamin Cowen shared his ideas on the present state of the crypto market.

In keeping with a report by The Day by day Hodl, Cowen stated:

“One of many issues that [has] stored me actually bearish on the altcoin market is in fact the Bitcoin dominance. [It is] nonetheless very low and now at 42%, when you exclude stablecoins, it’s one thing like 48%…

Despite the fact that the dominance continues to be low, that is what’s stored me from shopping for altcoins this 12 months. That is what has stored me from saying in 2022 ‘Look guys, I do know you just like the shiny altcoin objects in a bull market, however in a bear market, they aren’t your folks, don’t marry an altcoin.’ I acknowledge the dominance continues to be low, however I’ll say this metric is admittedly what’s stored me largely from shopping for altcoins and to this point it’s labored out fairly effectively.” 

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On Sunday (1 January 2023), Dennis Porter, Co-Founder and CEO of bitcoin mining advocacy group Satoshi Action Fund, defined why he believes that the Bitcoin value might finally go loads greater than $1 million.

Porter stated on Twitter:


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After all, not everyone seems to be bearish on altcoins proper now. For instance, the favored pseudonymous host of crypto market evaluation present “Coin Bureau” defined in a latest interview why he’s so bullish on $ATOM, the native coin of proof-of-stake (PoS) blockchain Cosmos.

In keeping with a report by The Day by day Hodl, in an episode of YouTube collection “Altcoin Day by day” that was launched yesterday, the Coin Bureau had this to say about Cosmos:

“I’d be very fast to leap on [ATOM]. I feel it’s an incredible undertaking. I like Cosmos. I like this concept of interoperability. There’s some actually cool tech there. There’s a fantastic group behind it and likewise, I need to say, a very good neighborhood behind Cosmos as effectively… There are some superb returns on staking ATOM in the intervening time.

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As for an additional standard altcoin, on 30 December 2022, Jeremy Hogan, a accomplice on the American regulation agency Hogan & Hogan, who has been carefully following and commenting on the U.S. SEC’s lawsuit in opposition to Ripple, defined why he owns $XRP.

Hogan informed his over 248K Twitter followers:

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