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Bitcoin’s (CRYPTO: BTC) has popped above $65,000 on peace deal news, but its current long-term downturn may have more to do with time than price, according to crypto analyst Benjamin Cowen.
“Time-Based Capitulation More Important“
In a June 14 market update, Cowen compared Bitcoin’s current cycle to prior midterm-year bear markets in 2014, 2018 and 2022, which historically lasted between 50 and 60 weeks from peak to trough.
While the current downturn roughly 35 weeks old, Cowen says the market may still need additional time before a definitive bottom forms.
Over the past month, BTC prices plunged around 16% while the past year saw …
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