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BTC Benjamin Cowen, a closely watched analyst in the cryptocurrency market, studied the price trend of Bitcoin in his latest market analysis. The analyst pointed out that Bitcoin once again follows the well-known four-year market cycle. In this regard, Cowen advises investors not to ignore the historical four-year cycle. He believes that every market will experience periods of rise, fear, correction and recovery, and Bitcoin is no exception.
In this context, Cowen pointed out that Bitcoin is following a similar pattern to the bear market in 2018. The analyst said that in both cycles, Bitcoin hit a local low in February and then experienced a brief recovery.
The analyst pointed out that both cycles fell to new lows in June, and mentioned that BTC recovered in July from the bear market of 2018. In this regard, Cowen said that this BTC bear market is full of similarities and expects it to continue to recover in July this year.
Despite this optimism, the analyst believes that Bitcoin and the entire cryptocurrency market may experience another correction before finally hitting bottom, possibly between August and October.
