Renowned strategist Benjamin Cowen has shared his insights on Bitcoin’s potential upcoming trend shifts, including the possibility of a counter-trend rally.
Price Levels and Expectations
Cowen emphasizes the importance of closely monitoring a critical price level for Bitcoin. If Bitcoin remains below $70,000, it indicates that future rallies may peak at lower levels. Conversely, if it stays above this mark, the possibility of achieving new and higher peaks is suggested.
Market Dynamics
The analysis anticipates a significant decline for Bitcoin in the first quarter of 2025, followed by a counter-trend rally in the second and third quarters. According to Cowen’s forecasts, many alternative cryptocurrencies are expected to lose value against Bitcoin during this period, with another decline predicted in the fourth quarter of the year. This scenario hints at economic contraction potential in 2026.
Data Supporting the Predictions
Cowen’s earlier prediction of a halt in Bitcoin’s rally above $100,000 coincided with Donald Trump’s anticipated return to office. This forecast appeared analogous to the performance of a fund listed on the Nasdaq. The analyst cites the market reaching a local peak 13 months after the launch of spot Bitcoin funds as a significant example.
Cowen’s evaluations stress the importance for market participants to carefully monitor risks and opportunities. These insights can aid new investors and existing stakeholders in their decision-making processes.
