Bitcoin Price Could See Major Correction in Early 2023, Analyst Warns
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Bitcoin potentially setting up for a dramatic correction similar to 2019 based on current price pattern, according to analyst Benjamin Cowen
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Cowen notes Bitcoin saw a correction from $13k to $9,167 in 2019 after a specific candlestick pattern emerged
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In 2019, Bitcoin dropped below $4k around the same time interest rates bottomed out
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Cowen says Bitcoin may reach a local high then decline about a month before expected Fed rate cut in Jan/Mar 2023
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Bitcoin currently trading around $42.5k, down 2.4% in last 24 hours