A popular crypto analyst just issued a major Bitcoin price warning.
In a new strategy session, Benjamin Cowen tells According to its 969,000 YouTube subscribers, the BTC bull market is probably over.
“It’s one of those times where apathy really starts to set in. More and more people are starting to accept the idea of a bear market, and that’s difficult because we all know that the medium-term years are often also bear market years.
I think going into it, it’s just kind of thinking, if this lasts a year like normal, why would we expect anything different until October 2026?
Cowen says there are indications that the current downturn could end sooner than October.
However, he says investors should recognize that crashes are part of the crypto asset cycle, and realize that timing is everything.
“Long term, remember: all the money is actually made in the bear markets. The real money made this cycle was the people buying at the end of 2022.
It wasn’t the people who brought in YOLO for like $70,000. It was the people who got in at $15,000, so to create those opportunities you have to have a bear market at some point and unfortunately that’s exactly where we are now…
This isn’t our first bear market. It certainly won’t be our last bear market and it’s just something we have to accept. Trade the market you have, not the market you want.”
As for his price target, Cowen says he thinks BTC could fall to the $60,000 to $70,000 range by summer, based on the asset’s 200-week Simple Moving Average.
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Featured image: Shutterstock/Joy Chakma/Gorev Evgenii