A crypto analyst who correctly predicted Bitcoin’s peak in January 2025 is forecasting a short-term price increase for BTC. However, he cautions that the long-term outlook depends on a crucial price point.
A Counter-Trend Rally?
Benjamin Cowen, a popular crypto strategist, told his nearly one million X followers that he anticipates a “counter-trend” rally for Bitcoin in the next few months. He envisions this rally happening in the second and third quarters of 2025, with most altcoins underperforming relative to Bitcoin. He predicts a subsequent price drop in the fourth quarter, coinciding with a potential 2026 recession.
The $70,000 Question
The key, according to Cowen, lies in whether Bitcoin stays above or falls below $70,000 in the coming weeks. If it dips below this level, he believes any subsequent rally will result in a lower high than the previous peak. This would signal the end of the current Bitcoin bull market. Conversely, if Bitcoin remains above $70,000, a future rally could potentially push it to a new all-time high, exceeding the previous peak of $108,000.
At the time of writing, Bitcoin is trading around $86,380.
Past Success and Future Predictions
Cowen’s prediction is rooted in his successful forecast of Bitcoin’s January 2025 peak. He correctly predicted that the rally above $100,000 would stall around President Trump’s inauguration day, drawing a parallel to the Nasdaq ETF, Invesco QQQ. This comparison was based on the 13-month timeframe between the ETF’s launch and its peak.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Investing in cryptocurrencies is inherently risky. Always conduct thorough research and consider your own risk tolerance before making any investment decisions.
/p>
