For quite some time, optimistic forecasts for Bitcoin have dominated discussions; however, a shift towards more pessimistic views is now becoming apparent.
Benjamin Cowen, the founder of IntoTheCryptoverse, has recently suggested that Bitcoin might experience a staggering decline of up to 70% during the forthcoming bear market.
Cowen emphasized that Bitcoin adheres to a conventional four-year cycle of bullish and bearish trends influenced by halving events. He anticipates that after reaching its peak value in the next bear market, Bitcoin could potentially plummet by as much as 70%.
While he acknowledged that such a drastic drop isn’t guaranteed, Cowen pointed out historical patterns indicating similar downturns in previous cycles.
He highlighted past declines where Bitcoin faced reductions of 94%, 87%, and roughly 77%, arguing there’s no reason to believe this cycle will differ significantly.
“This time doesn’t necessarily need to be different,” he cautioned investors about the possibility of a severe drop reaching up to 70%.
Cowen also mentioned his expectation for an eventual recovery in Bitcoin’s price following any significant decline before it reaches new heights again. He indicated that if there’s an upward trend in Q4, it could suggest this cycle is mirroring earlier patterns.
The analyst expressed his intention to capitalize on potential gains during Q4 while considering re-entering the market around mid-2026 after observing how things unfold further.
The Outlook for Ethereum (ETH) Looks Promising!
In addition, Cowen provided insights into Ethereum (ETH), suggesting it may struggle against Bitcoin temporarily but is likely to rebound towards the end of this market phase.
The analyst noted that ETH would continue facing challenges against BTC over the coming weeks but expects it will outperform later on as we approach the conclusion of this cycle.
“Ethereum appears poised for better performance from now until this cycle wraps up.”
*This information should not be considered financial advice.