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Homeอัลท์คอยน์Analyst Benjamin Cowen Says Grand Finale for ‘Altcoin Reckoning’ Already Underway –...

Analyst Benjamin Cowen Says Grand Finale for ‘Altcoin Reckoning’ Already Underway – Right here’s His Timeline


An analyst who continues to develop his following with well timed crypto calls believes that altcoins are about to witness a ultimate capitulation occasion.

Crypto strategist Benjamin Cowen tells his 876,600 followers on the social media platform X that the altcoin market appears poised to plummet towards Bitcoin (TOTAL3/BTC).

TOTAL3 serves as a proxy for the altcoin market because it tracks the market cap of all crypto excluding Bitcoin, Ethereum (ETH) and stablecoins.

In line with Cowen, TOTAL3/BTC seems to observe a value sample witnessed in 2019 when the pair slumped to a key assist stage earlier than a reversal and a robust uptrend.

“It appears just like the grand finale of the altcoin reckoning has lastly arrived.

The altcoin reckoning needs to be over by December 2024 (2nd week of January 2025 on the newest).

It has been an extended journey, and plenty of gave up alongside the best way, however this course of was at all times going to play out.” 

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Supply: Benjamin Cowen/X

A bearish TOTAL3/BTC chart means that Bitcoin is primed to considerably outperform the altcoin market.

Zooming in on the altcoin market, Cowen takes a better have a look at the OTHERS chart, which tracks the market cap of all crypto belongings excluding the ten largest cash and stablecoins. In line with Cowen, OTHERS towards Bitcoin (OTHERS/BTC) simply misplaced a key assist stage, suggesting that lower-cap altcoins are about to lose lots of worth towards Bitcoin.

“I warned that OTHERS/BTC would sweep the lows, rally to the BMSB (bull market assist band) then get rejected and put in new cycle lows.

That is now enjoying out, whereas those who promote memecoin rubbish will fake like this isn’t occurring.

Don’t lose all of your cash chasing rubbish memecoins, the people who promote them continuous won’t care if you happen to lose all of your cash buying and selling them, and you will discover they are going to transfer on to selling completely different tasks in only a few months.” 

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Supply: Benjamin Cowen/X

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