Bitcoin New Prediction Is Out: What’s In Store For Q1 2022? | CryptoGazette
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There are all kinds of optimistic predictions about the prices of Bitcoin these days, and the latest one involved the price of the king coin in Q1 2022.
It’s been just revealed that there is a popular crypto analyst who assessed where Bitcoin stands in Q1 2022 as well as when crypto investors might be expecting to see a rally for altcoins.
Cowen is not bullish in the long term
As the online publication the Daily Hodl notes, Benjamin Cowen recently said that while he’s not particularly bullish on Bitcoin in the short term, he’s limiting his analysis to Q1 only and not looking ahead to the rest of the year.
“My general outlook for Q1 is bearish for Bitcoin, or neutral at best. The best-case scenario I can imagine would be Bitcoin closing Q1 at around the place that it opened, so around $46,000. I’m not talking about Q3 or Q2 or Q4, I’m talking about Q1.”
It’s also worth noting the fact that Cowen explains how he manages risk in an environment where several macroeconomic factors influence the crypto markets, including the altcoin markets.
Check out what he said below:
“I see quantitative tightening, we see a lot of macroeconomic uncertainty, we see the dollar still above its own bull market support band.”
He also made sure to say the fact that Bitcoin is below the bull market support band now. He explained that he could not look at those conditions and say that it’s the best scenario for altcoins.
He said that the reason for which he is saying that is not to make investors feel bad, but they have to be honest and say things just the way they are.
At the moment of writing this article, Bitcoin is trading in the red, and the king coin is priced at $39,875. Stay tuned for more news, and make sure to keep your eyes on the crypto market.
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