20 min listen
927: HERE’S THE WORST-CASE SCENARIO FOR CRYPTO MARKETS AMID BITCOIN CRASH, ACCORDING TO TOP ANALYST!!
FromCrypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
927: HERE’S THE WORST-CASE SCENARIO FOR CRYPTO MARKETS AMID BITCOIN CRASH, ACCORDING TO TOP ANALYST!!
FromCrypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
ratings:
Length:
24 minutes
Released:
May 13, 2022
Format:
Podcast episode
Description
Widely-followed crypto analyst Benjamin Cowen says the dot-com bubble in the late 1990s is giving a glimpse of what the bottom could look like for the Bitcoin and cryptocurrency market.
Cowen says that an 80% drop is highly possible for crypto.
"Sometimes I struggle to comprehend an asset class that has only a market cap of $500 billion, but considering that the asset class as a whole was $3 trillion not that long ago and we’re currently at $1.26 trillion, it’s not that far-fetched to assume that we can’t drop another 40% or so down to approximately $500 billion. I would consider that to be the absolute worst-case scenario.”
Learn more about your ad choices. Visit megaphone.fm/adchoices
Cowen says that an 80% drop is highly possible for crypto.
"Sometimes I struggle to comprehend an asset class that has only a market cap of $500 billion, but considering that the asset class as a whole was $3 trillion not that long ago and we’re currently at $1.26 trillion, it’s not that far-fetched to assume that we can’t drop another 40% or so down to approximately $500 billion. I would consider that to be the absolute worst-case scenario.”
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
May 13, 2022
Format:
Podcast episode
Titles in the series (100)
610: MAX KEISER SAYS, BITCOIN TIPPED TO HIT $220K AS CHINA SHUTDOWN SEES MINERS AIRLIFT EN MASSE TO USA!!: CHINA's Bitcoin crackdown has caused the nation's miners to flee en-masse and set up operations in the US, with one expert Max Keiser stating the move affirms his price target of "$220,000 BTC for 2021". Referring to the move by China Bitcoin pioneer... by Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News