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Benjamin Cowen, one of the financial analysts who has a large following, especially on YouTube, said that based on past data, Bitcoin could fall in January.
He cited the last two sections as examples.
Stating that January saw the largest cryptocurrency decline in years following a halving, Cowen cited the last two halvings as examples:
“In at least two half-years, Bitcoin corrected in January. However, interestingly this time, Bitcoin corrected in December as well. However, let’s look at the last two rewards. January 30, 2021 % correction. We see a 30% correction in January 2017, a double-digit percentage decrease.
“Maybe they won’t come”
In discussing the possibility that a correction in December came with the expectation of January, Cowen used the following statements:
“The correction in December may actually have come in anticipation of the correction in January. So, the expected decline in January might not happen. If we look at the movement in December this year, the price is about 15% from the peak. “A 30% decline would bring the price to $77K and the 20-week moving average.”
Bitcoin is showing a slight upward movement as of Thursday morning and has risen above $96,000 at the time of writing.
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