Benjamin Cowen Predicts Bitcoin’s Next Bull Run as Crypto Market Gains Momentum

Benjamin Cowen is an investor and crypto market analyst with considerable followership on social media. He has recently shared his stance on the cryptocurrency market movements concerning the unclear price movement of cryptocurrencies like Bitcoin.

He says that Bitcoin might still move slowly toward the next Bull Run despite its recent market traction. It is worth mentioning that following the announcement of government bailouts the crypto market is once again gaining momentum.

Cowen uploaded a new video where he shared that some of the top cryptocurrencies in the market still have a lingering chance of dipping. He addressed his 784K followers on YouTube explaining that big crypto prices may once again dip before the next Bull Run starts.  He has based his remarks on a series of on-chain and fundamental indicators.

Cowen has shared his insights on the price movement for Bitcoin based on the technical market analysis. He believes that Bitcoin can once again dip to $18K. He claimed that according to his technical market survey, there is a considerable probability that Bitcoin price may slump for a while before gaining full bull market momentum.

He mentioned that last year, many investors were positive that Bitcoin bottom had matured in June.

As per Cowen, he is not willing to make the same error again. He predicts that this time, Bitcoin bottom might mature when the cryptocurrency reaches the $10K price point. He backed his theory based on the idea of diminishing losses meaning that Bitcoin price corrections have been following the trough diminish during every cycle between the low and high ranges.

He referenced the last 3 Bitcoin bear markets exclaiming that Bitcoin lost more than 80% of its accumulated value in all instances.

As per the technical analysis shared by Cowen, the Bitcoin movement in the current year is likely to spend at maturing the bottom.

He believes that during this year, Bitcoin prices might hit $15K or lower lows. Cowen has told his followers that Bitcoin prices can start a slow recovery as it moves out of the current year.

He also highlighted a correlation of Bitcoin prices with the interest rates figures issued by the Federal Reserve for the long-term correlation. He explained that in the past bear markets, the Bitcoin bear run matured at $3000 coinciding with the terminal rates issued by Fed.

However, as soon as the Fed started easing the tightening the rates were restored but remained in higher low ranges.