Cowen Warns Bitcoin May Hit New Cycle Low This Year
- Bitcoin’s current cycle is at day 88 since the February low.
- Historical patterns show significant gaps between major lows, such as 174 days in April to October of 2014.
- In the past bear markets, it took about six months to break previous lows.
- In June of last year, it took around “140 something days” to breach that low.
Analyst Benjamin Cowen highlights that despite recent market movements, Bitcoin could still be vulnerable to setting a new low later this year. He emphasizes that investors should not confuse prolonged rallies with the start of a new bull cycle, warning against potential FOMO-driven decisions.
Given historical trends and current timelines, further downside for Bitcoin remains a possibility as the market navigates through this cycle. (Source)
