When the SEC is at work, the entire crypto industry suffers. Bitcoin and altcoins are not spared by his recent attacks. For crypto analyst Benjamin Cowen, the fall of altcoins will continue. Unfortunately, the bloodbath will not end anytime soon.
Another terrifying prediction for altcoins
Six days ago, Benjamin Cowen predicted a major drop in altcoins. To his eyes, a repetition of historical cycles will cause this fall. Investors will have to remain cautious to avoid any form of surprise linked to this possible bear market.
Based on a recent tweet from the same crypto analyst, The Daily Hodl found the fall of altcoins is not ready to know an end. The loss will become increased over time.
” As long as all of these influencers continue to publicly invest massive sums in altcoins, their downfall will continue.
They will tell you to buy the drop all the way.
The altcoin casino will stay open until all the money is gone. »
Mr. Cohen also believes that these crypto-assets will no longer be able to regain their former value. And that some will risk disappearing.
But according to him, there is still hope.
” Because many altcoins will never recover, their collective market capitalization could increase over time if new projects emerge. The collective market capitalization of altcoins might eventually recover, but the ones you buy today might just become relics, and people might not care about them in the next cycle. Occasionally there will be shiny new altcoins that people will be interested in “.
Unfortunately, this decadence is already felt on the side of the ShibArmy Currently.
What about the future of bitcoin?
The fate of bitcoin has nothing to worry about continues our crypto analyst. Unlike altcoins, which trader TechDev predicted a bright future for this year, the queen of cryptocurrencies is not living their current hellish situation.
” Take a look at where altcoins were on March 16, the last time bitcoin was at $25,000. Most of them (not all) are much lower today than they were then.
In the years leading up to the market crash, altcoins took a beating.
Domination of BTC at 60%. »
With a exemplary resilience, bitcoin will survive all future crises. Long-term hodlers have already understood this and are not tempted by a thoughtless parting with their BTC holdings.
And bitcoin maximalists like Michael Saylor aren’t even shy about predicting yet again a bright future for the crypto-flagship.
Also at this time, the SEC is giving less and less chance of survival with altcoins. Polygon, Algorand, Flow, BNB, Cardano and many more are already in the hot seat. They are simply in danger.
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