Crypto analyst Benjamin Cowen thinks Bitcoin (BTC) is nearing the end of the bear market.
In a new YouTube update, Cowen says that Bitcoin is likely in the third and final stage of a downtrend when BTC starts to form a market bottom based on historical precedence.
“My argument now is that we are, in fact, in stage three of the bear market. I believe this stage will last approximately the same length as the first two stages. So this one, in my opinion, will take us from June of 2026 to October of 2026, and that is stage three of the bear market, where arguably at this point a majority of the people do believe it’s a bear market.”
In the near term, Cowen thinks Bitcoin may revisit the $50,000 range in June before having a breakout next month.
“When you look at 2018, you wouldn’t want to go that much below [the prior low]. You could argue $57,000, $58,000 that would be okay, but you would want to see it continue to hold support, maybe move up, get a short-term higher low, and then it sets you up for a rally in July. So we’ll see where that June low comes in.”
Bitcoin is trading for $62,047 at time of writing, flat on the day.
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