Prominent analyst Benjamin Cowen has issued warnings regarding Bitcoin 
$98,342 trading near all-time highs. Cowen suggested that a downward trend in Bitcoin could occur approximately one month after the general elections in the United States.
Negative Scenario
Cowen predicts that Bitcoin could experience a decline of 12% to 46% in early December following the elections. Such a drop could lead to uncertainty and fear in the markets. He emphasizes that investors should exercise caution during this period, as the effects of the decline may be felt in the market.
According to Cowen, the anticipated drop could be temporary. He believes that Bitcoin retains the potential to reach new peaks in 2025. He also notes that market fluctuations may occur during the release of the Non-Farm Payroll report in the U.S.
Market Expectations
Cowen reminds that Bitcoin is currently trading at around $73,813, which is nearly 2% below its all-time high of $75,400. He anticipates that the price may remain stable at these levels in the near term.
“A decline at the beginning of December may unsettle some investors. However, I believe this could be a temporary situation, and we might see new peaks in 2025,” Cowen states.
Cowen indicates that a potential correction in Bitcoin will not lead to perceptions that the mining cycle has ended. On the contrary, he suggests that the market could experience a soft landing.
Recommendations for Investors
Cowen advises investors to closely monitor market movements and remain cautious against sudden declines. He further stresses that Bitcoin has strong long-term potential.
These developments in the Bitcoin market offer investors the opportunity to reassess their strategies. Cowen’s predictions highlight the importance of monitoring market dynamics carefully.
Cowen’s warnings provide significant insights for Bitcoin investors to consider. He anticipates that any post-election declines could be temporary and that Bitcoin may retain its value long-term. It could be beneficial for investors to adjust their strategies according to market conditions.
