A cryptocurrency strategist known for predicting the January Bitcoin correction believes that BTC still has potential for growth this year.
Analyst Benjamin Cowen shares with his 987,300 followers on the social media platform X that he anticipates Bitcoin will initiate a “counter-trend” rally in the upcoming months.
However, Cowen notes that he is keeping a close eye on a crucial price level for BTC during this correction to assess whether its bull run has concluded.
“Essentially, we might see a significant decline in Q1 2025, followed by a counter-trend rally in BTC/USD during Q2/Q3 where many ALT/BTC pairs experience losses, and then another drop in Q4 2025, potentially leading to a recession in 2026.”
The uncertain aspect is whether BTC can reach a new peak during the counter-trend rally in Q2/Q3.
My prediction is if BTC remains
If BTC stays >$70,000, it could pave the way for a future rally to create a higher high.”
A lower high would indicate that the Bitcoin bull market has ended, as BTC bulls may lack sufficient buying pressure to push the crypto leader above its all-time high of $108,000.
Conversely, a higher high would suggest that BTC could rally well above $108,000, thereby maintaining the bull market.
As of now, Bitcoin is priced at $86,380.
Days prior to Bitcoin’s January 2025 peak, Cowen forecasted that BTC’s surge past $100,000 would encounter resistance on Trump’s inauguration day. His prediction stems from the notion that Bitcoin’s price trends will resemble the performance of the Nasdaq exchange-traded fund (ETF) Invesco QQQ, which reached a local top 13 months after its launch.
At that time, Cowen mentioned that January 20th would signify the 13th month since the introduction of the spot Bitcoin ETFs.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Note that The Daily Hodl is involved in affiliate marketing.
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