An influential crypto analyst has recently issued a significant warning about the price of Bitcoin.
During a recent strategy session, Benjamin Cowen shared with his 969,000 YouTube followers that he believes the bull market for BTC may have come to an end.
“This is the time when indifference really starts to take hold. More and more individuals are beginning to accept the idea of a bear market, which can be challenging because historically, midterm years tend to be bear market years as well.
Looking ahead, it’s important to consider that if this follows the usual timeline, why should we anticipate any deviation until October 2026?”
Cowen does acknowledge that there are some indicators suggesting that the current downward trend might conclude earlier than October.
Nevertheless, he emphasizes that market crashes are a natural part of the crypto asset cycle and emphasizes the importance of timing in investment decisions.
“Remember, most profits are actually generated during bear markets. The real gains this cycle were made by those who entered the market in late 2022. It wasn’t the ones who jumped in at $70,000. It was the individuals who bought in at $15,000. Therefore, in order to capitalize on these opportunities, we must go through a bear market at some point, and unfortunately, that’s where we find ourselves now…
This isn’t our first bear market, and it certainly won’t be our last. It’s a reality we must accept. Trade based on the current market conditions, not the ones you wish for.”
Regarding price predictions, Cowen suggests that BTC could potentially dip to the $60,000 to $70,000 range by summer, based on the asset’s 200-week Simple Moving Average.
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