A popular crypto analyst just issued a major Bitcoin price warning.
In a new strategy session, Benjamin Cowen tells his 969,000 YouTube subscribers that the BTC bull market is likely over.
“It’s one of those times where apathy really starts to set in. More and more people start to accept the idea of a bear market and it’s difficult because we all know midterm years tend to be bear market years as well.
I think going into it, it’s just sort of thinking that if this does take a year like normal, why would we expect anything different until October of 2026?”
Cowen says there is some evidence to suggest the current downturn might end earlier than October.
However, he says investors should acknowledge that crashes are part of the crypto asset cycle, and realize that timing is everything.
“Just remember long term, all the money is actually made in the bear markets. The real money that was made this cycle was the people who bought in late 2022.
It wasn’t the people that YOLOed in at like $70,000. It was the people that got in at $15,000, so in order to set those opportunities up, at some point, you have to have the bear market and unfortunately, that’s just where we are now…
It’s not our first bear market. It certainly won’t be our last bear market and it’s just something that we have to accept. Trade the market you have, not the market that you want.”
As for his price target, Cowen says he thinks BTC could drop to the $60,000 to $70,000 range by the summer, based on the asset’s 200-week Simple Moving Average.
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