Prominent Crypto Analyst Warns of Impending Altcoin Crash

Famed cryptocurrency analyst and founder of IntoTheCryptoverse, Benjamin Cowen, warned cryptocurrency investors that altcoins could crash sharply against Bitcoin (BTC), suggesting they might be on the verge of a major downfall. Analyst Cautions About a Massive Crash for Altcoins Cowen recently stated in a tweet that the chart, which illustrates the total value of all altcoins against BTC, exhibits a worrying similarity to the crash in July 2019. The attached chart to Cowen’s tweet shows the Total 3 Index, which includes all altcoins except Ethereum (ETH). The price line in the chart is approaching a critical support level reminiscent of a similar collapse in 2019. Despite the potentially alarming similarity, the analyst added that occasional jumps in the BTC parity of altcoins should not be disregarded. Underlining that price movements can occasionally behave randomly, Cowen noted that the intermittent recoveries do not weaken the overall macro thesis regarding the value […] The post Prominent Crypto Analyst Warns of Impending Altcoin Crash appeared first on COINTURK NEWS.