Analysts who continue to build their following by making timely predictions about crypto cryptocurrencies believe that the altcoins will soon witness a capitulation.
Benjamin Cowen told his 876.600 followers via the social platform X the altcoin markets are about to crash against Bitcoin.BTC).
The TOTAL3 is a proxy market for altcoins, as it measures the total market capitalization of all crypto, excluding Bitcoin and Ethereum.ETHStablecoins and cryptocurrencies.
Cowen believes that TOTAL3/BTC will follow the same price pattern as in 2019, when it fell to an important support level, before recovering and experiencing a significant uptrend.
The grand finale for altcoins has arrived.
Altcoins will be a thing of the past by 2024.
“It has been a difficult road, and some gave up, but the process would always play out.”
The TOTAL3/BTC bearish chart indicates that Bitcoin will outperform altcoins by a significant margin.
Cowen zooms into the altcoin market and looks at the OTHERS graph, which shows the total market value of crypto assets excluding stablecoins, the top 10 coins, etc. Cowen claims that OTHERS against Bitcoin has just dropped a critical support level. This suggests lower cap altcoins will soon lose a great deal of value compared to Bitcoin.
I warned that OTHERS/BTC was going to sweep through the cycle lows and then rally up until the BMSB band (bull market resistance band).
This will unfold, but those who promote the memecoin fraud will try to pretend that this does not happen.
You won’t be able to get your money back if they promote memecoins nonstop. In a matter of months, you can expect them to move on and start promoting new projects.
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