Benjamin Cowen Says ‘One Last Flush’ for Cardano (ADA) Against Bitcoin Likely Approaching
Widely followed analyst Benjamin Cowen is issuing a warning on Cardano (ADA) as the Ethereum (ETH) rival rallies. In a new video, Cowen tells his 822,000 YouTube subscribers that ADA could suddenly turn bearish against Bitcoin (ADA/BTC) on the weekly timeframe, similar to what happened in December 2020. “It’s probably not going to matter in a year, but there is still a chance that [ADA] gets one more flush on its Bitcoin pair. But if it does get one more flush on its Bitcoin pair, I would say that that’s probably the last one for the cycle, is what my guess would be.” Cowen says that Bitcoin’s dominance level (BTC.D) – the ratio between the market cap of BTC versus the market cap of all crypto assets combined – may extend higher next month. “Basically, I would take my Bitcoin dominance view and relate that to a lot of the alt/Bitcoin pairs. Bitcoin dominance, it’s possible that it’s topped, but there’s also ro...