The cryptocurrency market was relatively quiet on Sunday, June 16, with Bitcoin (BTC) trading at $66,599. Some of the altcoins started to follow a positive trend again. Although investors experienced a short-term shock after the last Fed meeting, this situation is not expected to be permanent. If inflation indicators are promising, buyers may enter the market with the expectation that low data will continue. So, what does Benjamin Cowen say about this?
When Will the Altcoin Bull Bull Start?
While Bitcoin broke its all-time record, many altcoins have not yet reached these levels. Most altcoins are trending around important support levels. Cryptocurrency analyst Benjamin Cowen states that those expecting a big rally in altcoins may be disappointed.
In his latest market assessment, Cowen thinks the altcoin bull won't fully begin until the Federal Reserve cuts interest rates. He emphasizes that after the Fed started to reduce interest rates in the past, altcoins started to perform better than Bitcoin.
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I EXPLAIN IN DETAIL.
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