Here’s When We Can Get Bullish About Crypto Markets Again, Says Analyst Benjamin Cowen

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According to widely followed crypto analyst Benjamin Cowen, now is probably not the time to expect a full fledged bull market for Bitcoin (BTC) and crypto.

In a new strategy session, Cowen tells his 785,000 YouTube subscribers that Bitcoin could be at risk of another summer lull.

Cowen points out that April 2021 and 2022 both marked local highs and the start of multi-month downtrends for BTC.

According to the analyst, if the trend continues, it would align with his thesis that BTC will not fully exit its bear market until late this year or early next year.

I’d generally say there’s a good chance this will be a 2.0 summer lull, where we go back and down to those lower levels before finally putting our rally caps on at the start of the year in half. This is my general expectation. I’ve said quite clearly for a long time, that the years of recovery are brutal for both parties. Congratulations to those playing on both sides, but that’s my general expectation for the rest of this year is that we’ll probably see prices go down.

Cowen says that with the US economy currently at risk of witnessing a recession, the time to be bullish about crypto is likely late 2023 to early 2024, when fears of an economic slowdown are either avoided or drowned out.

The altcoin market is expected to bleed again against bitcoin, and by the end of this year, once recession risk is averted or occurs and exits, end of this year or early next year is, I think, the time to really get a little more optimistic about these markets.

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