Analyst Benjamin Cowen Issues Warning, Says It’s Time for Altcoins To Collapse Against Bitcoin

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A closely followed crypto strategist thinks altcoins are about to witness a market meltdown against Bitcoin (BTC).
Analyst Benjamin Cowen tells his 839,200 followers on the social media platform X that altcoin holders are about to experience pain as he believes the crypto market is closely following in the footsteps of the 2019 cycle.
In April of this year, Cowen looked at the total market cap of altcoins (TOTAL3) against Bitcoin and said the chart is a carbon copy of the 2019 cycle.
Source: Benjamin Cowen/X
Back then, Cowen predicted that Bitcoin would see a larger correction once ALT/BTC pairs collapse, creating a scenario where altcoins capitulate against the US dollar.
With the ALT/BTC chart breaking support, the analyst says “it’s time” for the market to see an encore of the 2019 cycle.
“We should finally see ALT/BTC pairs break down soon. Last cycle, they broke down one month before the 1st rate cut, and something similar could play out here too.”
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