📉 Bitcoin is not gold? Benjamin Cowen warns investors to stay rational and not to be overly optimistic
Renowned cryptocurrency analyst Benjamin Cowen has recently sounded the alarm for optimistic investors. Although gold and silver have recently reached historical highs, Cowen believes that Bitcoin holders need more patience, as the downtrend may last longer than expected.
Key points summary:
Not a safe-haven asset: In the current cycle, BTC is viewed more as a 'high-risk asset' (Risk-On) rather than a safe-haven tool. Linked to the stock market: As long as traditional markets like the U.S. stock market continue to fluctuate, Bitcoin will face ongoing selling pressure. Misjudgment of capital flows: Investors' hopes for a large-scale shift of funds from precious metals to cryptocurrencies may be disappointed. During uncertain times, capital tends to favor low-volatility predictive assets.
Market outlook:
Cowen believes that the long-term outlook remains positive, but the prerequisite is to first go through a period of 'growing pains'—that is, the market must complete a correction and digest economic risks. Before that, Bitcoin may remain in a state of decline or sideways consolidation.
💬 What are your thoughts? Do you think Bitcoin will follow gold prices for a rebound, or will it continue to decline along with the stock market? Feel free to discuss in the comments!
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