Prominent cryptocurrency analyst Benjamin Cowen, founder of Into The Cryptoverse, has issued a cautious outlook for Bitcoin’s potential performance during the next bear market phase. While emphasizing that such a severe correction is not predetermined, Cowen pointed to historical patterns that suggest investors should prepare for possible substantial downside movements.
According to Cowen’s analysis, Bitcoin’s previous market cycles demonstrate a pattern of significant retracements following major bull runs. The noted analyst stressed that while a 70% drawdown isn’t guaranteed, historical precedent indicates that such corrections have consistently occurred throughout Bitcoin’s market history.
Cowen’s commentary serves as a sobering reminder for market participants about the volatile nature of cryptocurrency investments. His analysis suggests that even established digital assets like Bitcoin remain subject to substantial price fluctuations across market cycles. The warning comes as market observers closely monitor Bitcoin’s price action following its recent all-time highs, with many analysts debating the potential timing and severity of the next market correction.
Investors and traders are advised to consider historical performance data while maintaining appropriate risk management strategies in their cryptocurrency portfolios.
