Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analyst Benjamin Cowen Updates Bitcoin Forecast After Top Crypto Reaches New Record High

by Daily Hodl Staff
November 9, 2021
in Bitcoin

With Bitcoin reaching new all-time highs above the $68,000 mark, crypto analyst Benjamin Cowen says traders should consider one factor when looking at BTC’s chart.

In a new strategy session, the closely followed analyst tells his 600,000 YouTube subscribers that while Bitcoin already put in an all-time high (ATH) late last month, this week’s breakout represents the first true record high since April when taking the US dollar money supply (M2) into account.

Cowen says the amount of US dollars in circulation should be considered when trying to predict the future price of Bitcoin, and the rapidly expanding money supply suggests that BTC might have more bullish potential than traders realize.

“The whole idea is, you might as well take into account the money supply. Because we know if trillions are being printed… then perhaps we should consider that in what is theoretically obtainable for Bitcoin.

Maybe that means it can push even higher because we have a lot more money in the system. If everyone’s going to get an ‘altcoin’ USD [US dollar] airdrop of $1,200 way back when, then we should consider that some of those people might go buy Bitcoin with it.

Bitcoin has now put in a new all-time high when accounting for the money supply.”

The analyst says that although it may be easy to predict Bitcoin going to $100,000 without giving a specific timeline, he now believes it will likely break the six-figure mark this market cycle.

“The general direction is up. I do believe Bitcoin will make it to $100,000. I do believe it will make it there this market cycle.

I don’t think we have to wait many years for Bitcoin to make it to $100,000 at this point. I would think we would make it there this market cycle.

But I also would say I think we’re going to go above $100,000. I don’t even think $100,000 is the top.”

o
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/MoVille

Submit a Press Release

Industry Announcements

  • Kriptomat Makes Automated Trading Available to All
    May 24, 2022
  • Spritz Finance Raises $2.5 Million in Pre-Seed Funding
    May 24, 2022
  • Bored.Ai Opens Text2Art Minting for the First Time
    May 24, 2022
  • Nitro League Releases Updated Roadmap To Launch Its Racing Metaverse
    May 24, 2022
  • Crypto Derivative Traders Can Access TradingView With Broker Eightcap
    May 24, 2022
  • DeFiChain Forms Technical Committee To Further Decentralize the Consensus Code Governance
    May 23, 2022
  • LongHash Ventures Partners With Protocol Labs To Launch the Third LongHashX Accelerator Filecoin Cohort
    May 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,552.00
$29,552.00
0.99%
Ethereum
$1,955.80
$1,955.80
0.32%
Cardano
$0.513169
$0.513169
0.03%
XRP
$0.404652
$0.404652
0.41%
Dogecoin
$0.08341
$0.08341
0.14%

Spotlight

  • CFTC Chief Says Crypto Assets Will Be Divided Into Two Categories in Upcoming Regulation
    May 19, 2022
  • Crypto Analyst Predicts Breakout for Polygon (MATIC), Says Zilliqa (ZIL) and One Low-Cap Altcoin Flashing Strength
    May 22, 2022
  • DeFi Altcoin Rebounds by More Than 92% From Last Week’s Crypto Crash Despite Class-Action Lawsuit
    May 20, 2022
  • Institutional Investors Accumulate Cardano (ADA) and Polkadot (DOT) As Bitcoin Sees Major Outflows: CoinShares
    May 23, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl