@BOMBERuss 17 April 2022 more from that month

The cryptocurrency analyst believes that the current behavior of #bitcoin demonstrates the dynamics observed on the eve of growth in 2013 and decline in 2018. Benjamin Cowen warned investors in a YouTube podcast that bitcoin is approaching "the point of choosing the direction of the trend." Cowan clarified that this has already happened: "In 2013, bitcoin set a minimum, then a second, a third and eventually began to grow. And then in 2018, when there were higher lows, we thought that the same thing would happen as in 2013, but in the end bitcoin fell to a new low." Cowan believes that it is advisable to monitor signals that can tell the time and direction of a market reversal in advance. According to the analyst, in order to restore the bullish trend and reduce the likelihood of a bearish one, bitcoin needs to restore its two-hundred-day simple moving average (#SMA), which is now at about $49,000. "If bitcoin can muster the courage to rise above its two-hundred-day SMA and move to the $50,000 level, then it will look pretty optimistic. What happens if the market drops to $30,000 and then Bitcoin goes up again? There's a good chance we'll go back to $40,000 or maybe $43,000," Benjamin Cowan said. Cryptocurrency analyst and trader Michael van de Poppe shares a similar opinion. He believes that against the backdrop of geopolitical tensions in eastern Europe, bitcoin will drop to a record low below $30,000 before it starts to grow. Largest Gainers and Losers in Crypto: