Bankless The State of the Charts with Benjamin Cowen
5 snips
Nov 17, 2021 
Benjamin Cowen, a charting expert and YouTuber known for his analytical skills, dives into the current state of the cryptocurrency market. He discusses the significance of Bitcoin's dominance and explores concepts like market cycles and the potential for a 'super cycle.' Cowen shares insights on navigating the crypto landscape, emphasizing the importance of recognizing both bull and bear markets. He also touches on Ethereum's ambition to surpass Bitcoin and the unpredictable nature of investment returns, offering valuable advice for crypto enthusiasts.
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Supercycle Theory
- The "supercycle" theory, where prices consistently rise, is wishful thinking.
- Expect future bear markets even with lengthening cycles and fundamental improvements.
Diminishing Returns
- Diminishing returns in Bitcoin's ROI suggest that future cycles will be less vertical.
- Eventually, crypto may resemble traditional asset classes with less pronounced cycles.
Blow-Off Top
- A blow-off top for Bitcoin is still likely, but probably not in 2021.
- Retail FOMO hasn't fully returned yet, suggesting further market growth.