Benjamin Cowen is one of the most influential crypto analysts on YouTube. He neither accepts ads nor shills referral codes on his channel, which lends greater credibility to what he has to say. At least, he sticks to his guns and doesn't sway his position according to the whim of sponsors.
Since the Federal Reserve is slated to raise interest rates in March this year, I thought I would summarise the key ideas from his "Bitcoin: New Highs With Rising Interest Rates?" Actually, I recommend that you listen to this video yourself since it is only ten minutes long, which is sufficient time for you to get a glimpse into his beautiful mind. However, with time crushing upon us these days, I relate to your struggle if you say that you have no time. So let me do the heavy lifting for you:
- The narrative that BTC is bound to fall in price in response to an interest rate hike may not be accurate. It could happen, no doubt but it is also important to note that BTC might just surge in value, with its increase coinciding with a rise in interest rates. So, either path could happen.
- To challenge this entrenched narrative, Benjamin Cowen pointed out historical data that proved the contrary. For instance, in December 2015, the rise in the interest rate then coincided with a similar increase in the price of Bitcoin. Another example would be Bitcoin attaining a peak and undergoing a parabolic rally in December 2017 at a time when interest rates were moving upwards.
- He thinks that BTC will appreciate to $100k, $120k by 2023. He won't guarantee this prediction though.
I really loved his humility by the way. He makes a prediction but emphasizes that he has no crystal ball and has no idea as to how BTC will progress in the future. Nonetheless, I loved his shrewd way of drawing conclusions about BTC's movements from past years' trends as well as his astute analyses.
Are you a fan of Benjamin Cowen too? Let me know in the comments below.