727 FinancePANews September 30 news, ITC Crypto founder Benjamin Cowen issued a letter questioning the bearish view of Bitcoin Q4, which said that from a technical point of view, the current market trend is good for the bulls. At present, the gap between the price of BTC and the high point in May is less than 1%, and it is difficult to conclude the aftermarket before entering the fourth quarter. Benjamin Cowen added that historically, after breaking the 50-week MA, such as 2019 and 2023, BTC usually rises by 20% to 30% in 1 to 2 weeks, but this round is significantly more moderate and may be affected by seasonal factors and higher US bond yields, while Bitcoin continues to show resilience, so it is necessary to re-examine the judgment that it is bearish in the fourth quarter.
PANews reported on September 30 that ITC Crypto founder Benjamin Cowen issued an article questioning the bearish view of Bitcoin Q4. He said that from a technical perspective, the current market trend is good for bulls. The current gap between the price of BTC and the high in May is less than 1%. It is difficult to draw a conclusion on the market outlook before entering the fourth quarter.
Benjamin Cowen added that historically, after BTC breaks through the 50-week moving average, such as in 2019 and 2023, it usually rises by 20% to 30% within 1 to 2 weeks. However, this trend is significantly more moderate and may be affected by seasonal factors and higher U.S. bond yields. At the same time, Bitcoin continues to show resilience, so the judgment of being bearish on Bitcoin in the fourth quarter needs to be re-examined.