The past few months have witnessed the crypto market go on a dynamic journey. Now that the market is catching breath, analysts are surfacing with their takes on navigating the industry.
Benjamin Cowen from IntoTheCryptoverse is one such analyst who shared keen insights into the BTC market. Cowen recently shared a string of tweets urging investors to focus on risk assessment instead of hype-buying tokens.
Risk Management in the Cryptosphere
In his recent tweets, Cowen heavily emphasized the importance of making data-based investment decisions. The analyst suggests traders focus on risk metrics instead of relying on popular stories.
Cowen talked about the recent gold price breakout to explain the situation. Investors have seen gold as a safe haven amid economic uncertainty for decades. A price hike for gold means a shift in investor sentiment to more risk-averse approaches.
However, the analyst argues that a better indicator of a potential correction is the breakdown in the ratios between Bitcoin and other major altcoins. If the ratio falls massively, it indicates a loss in trust among investors, pushing them back to BTC, the supposed safe option in the crypto market.
Cowen advises…
