Fakeouts Coming for Polkadot, Cardano, Avalanche and Other Altcoins, According to Benjamin Cowen

One of the industry’s most celebrated crypto analysts, Benjamin Cowen, warned his sizable YouTube subscriber following (784k) that they should expect the present altcoin rally to replicate previous scenarios from 2018 involving a massive surge followed by a realistic downward movement in price. Considering Bitcoin’s (BTC) unchallenged market platform dominance, which Cowen closely monitors via the BTC.D singularity gauge provided within crypto-tracking outlets, crypto traders alike should crouch in anticipation for BTC’s contiguous waxing of the altcoin portfolio. Just last week, Cowen made a determination that altcoin equities could soon become heavy casualties, with his initial proclamation reverberating somewhat vibrantly during BTC’s enduring attempt to ascend its dominance level — a formation surpassing the 49.9% mark at press time.

While it’s not of a surprise from this counter-perspective situation that Ethereum (ETH) is looking for optimistic support, similar inspiring responses regarding Triple-A tier competitors including Polkadot (DOT), Cardano (ADA) and Avalanche (AVAX) look to taper off as the SMA echelon puts its short-term confluent ingenuity to the test. Undoubtedly, Cowen’s constant caveats in such ism ring true in modern crypto dealing today, so much so that he strongly suggests a temporal enhancement of caution for all entrants on the altcoin circuit.

Robert Wilson author
Articles: 12200