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Analyst Ben Cowen Suggests Bitcoin Could Drop to $58,000 After Nasdaq Decline
(1 hour ago) · 1 source · Summarized by CryptoBipto
Crypto analyst Ben Cowen has suggested that Bitcoin could fall to around $58,000 following a decline in the Nasdaq index. Cowen pointed to correlations between Bitcoin and traditional equity markets as the basis for his outlook.
WHY IT MATTERS
When analysts talk about Bitcoin being correlated with the Nasdaq, they mean that Bitcoin's price has sometimes moved in the same direction as this major U.S. stock market index.
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SOURCES
- beincrypto.com
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