The Current Bitcoin (BTC) Cycle Is The Only One Of Its Kind According To Analyst Benjamin Cowen


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Cryptocurrency analyst Benjamin Cowen says Bitcoin has proven to be the only one of its kind in the current market cycle. In a recent strategy session, Cowen explains to his 456,000 YouTube subscribers that Bitcoin’s high market cap makes it difficult to move the price fast:

“With each cycle, it will get harder and harder to push the curve up, and again because market capitalization is increasing. [ve] it requires more and more volume to increase the price.”

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Cowen uses a model that predicts the cycle will get longer as BTC’s return on investment (ROI) gradually declines:

“I have always said that we need institutions so that BTC can go to $100,000. That’s the volume needed to get us there. Likewise, the cycle of these institutions and I have always been skeptical that every publicly known institution would have a FOMO on Bitcoin in 2021 and thought we would all sell out in 2022 and be back in a few years. I don’t think this will happen. I think many institutions will continue to enter the field and this cycle will be a little different from other cycles we’ve seen.

We made many comparisons with the 2013 cycle. I think it’s similar to the 2013 cycle but considerably longer. I think the real issue is that the time between various moves has changed in this current cycle compared to 2013… In fact, we’re back to lower returns from the last market cycle.”

Cowen thinks there may be several months before Bitcoin reaches all-time highs and potentially falls below the $30,000 range. However, in the current market cycle of Bitcoin, another “foot” He guesses that:

“I think we’re going to have a similar outlook to what we did in 2019, we’re going to either go down or show a sideways move for a while. We will go through this consolidation phase and then continue on to the next leg of our journey and this will be just another stepping stone to getting there. That’s what I think will happen in the end.”