Cryptocurrency analyst Benjamin Cowen has provided a roadmap for Bitcoin’s (CRYPTO: BTC) recovery, emphasizing that broader market trends, particularly a local bottom for the S&P 500’s, will play a crucial role in crypto market movements.
What Happened: In a podcast on March 16, Cowen suggested that Bitcoin’s current downturn could extend until late March before a potential rebound in the second quarter.
He noted that Bitcoin’s price action in Q1 is unusual, as it has closed below the bull market support band for multiple weeks—something that has typically happened in Q3 of past cycles.
“The big difference this time is that it’s actually happening in Q1, not Q3,” Cowen explained, drawing comparisons to …
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