Bitcoin Bear Market Not Over, Benjamin Cowen Says Despite Recent Rally
BeInCrypto
Analyst Benjamin Cowen warns that Bitcoin's recent rally is temporary and expects a potential price decline to reach a new low by October.Summary
Benjamin Cowen, founder of Into the Cryptoverse, argues that Bitcoin's current rally is likely a temporary fluctuation within an ongoing bear market. Drawing parallels to market patterns from 2014, 2018, and 2019, Cowen suggests that the price will peak within weeks before retreating, potentially hitting a cycle low in October. While he acknowledges that Bitcoin is performing better than typical midterm years and has reached key support levels, he maintains a cautious outlook, noting that retail interest remains low and historical cycle timing points toward further downside.
(Source：BeInCrypto)