Benjamin Cowen predicts BTC will bottom out this October

Cryptocurrency analyst and YouTuber Benjamin Cowen has predicted that Bitcoin will likely retest the $60,000 level again this year, after which a bull market could resume. He forecasts the final bottom for the current cycle to occur around this coming October. Cowen noted that Bitcoin peaked at a point nearly identical to its historical cycles, forming a top 1,162 days from its previous low, compared to 1,059 and 1,168 days in the two prior cycles. He added that this pattern is similar to bear market bottoms seen in the U.S. midterm election years of 2014, 2018, and 2022. Bitcoin is currently down about 40% from its all-time high of $126,080, set last October.