💰💰Analyst Cowen: Bitcoin could correct by at least 10% this month 💰💰

Benjamin Cowen, an analyst with a large following in the cryptocurrency market, suggested that Bitcoin could correct by at least 10% in January. Cowen made the following assessment: "We saw a correction in December, but there was a 30% drop in January 2021. We see a similar drop in 2017." Addressing a large audience on YouTube, financial analyst Benjamin Cowen stated that Bitcoin could decline in January in light of past data.

Example of the last two halvings

Cowen stated that Bitcoin experienced a correction in January in the years following the halving and gave the last two halvings as examples: "In the last two halvings, Bitcoin corrected in January. However, this time there is a different situation. Bitcoin also corrected in December. Still, let's look at the last two halving periods. In January of 2021, there was a 30% correction. We see the same rate in January of 2017. There may be a double-digit percentage decrease in January," he said.

"Maybe there will be no decrease"

Cowen also mentioned that the correction experienced in December may be a preliminary preparation for the expected decrease in January: "The correction in December may actually be a harbinger of the expected decrease in January. In other words, there may not be such a big decrease in January. If we look at the December movement of this year, the price fell by around 15% from the peak. A 30% correction could take the price to $77,000 and the 20-week moving average level." Bitcoin has shown a slight increase as of Thursday morning, exceeding $96,000 at the time of writing.

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