The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Benjamin Cowen Issues Bitcoin Warning, Says History Suggesting BTC Heads Much Lower – Here’s His Outlook

by Daily Hodl Staff
July 19, 2023
in Altcoins, Bitcoin

Widely followed crypto analyst Benjamin Cowen says that Bitcoin (BTC) and crypto markets don’t have history on their side right now, and are facing the threat of a hefty correction to the downside.

Cowen tells his 751,000 Twitter followers that even with this year’s rally, BTC is still following the same bear market patterns of 2015 and 2019.

Cowen shares a chart plotting Bitcoin’s current year-to-date return on investment (ROI) overlayed with the average of the same metric for 2015 and 2019.

“I know there have been a lot of calls for ‘This time is different,’ but despite everything, BTC in 2023 is still closely tracking the average of 2015/2019.”

Image
Source: Benjamin Cowen/Twitter

If history plays out the same way, the analyst gives a rough target of $23,000 for Bitcoin, or about a 23% drop from current levels.

“If we hit the lows of the 2015/2019 average, it would mean BTC going back to $23k sometime later this year.”

Cowen shares the same chart for Ethereum (ETH), suggesting the same scenario for the world’s top smart contract platform.

“ETH in 2023 compared to 2019.”

Image
Source: Benjamin Cowen/Twitter

In a recent video update, Cowen said that Bitcoin and altcoins in general were in the same type of bear market bounce that they went through in previous cycles, rather than the beginning of a bull run.

Says Cowen,

“My view is that until proven otherwise, the altcoin market is still no different than what we have previously seen. No different. The alt market bounced against Bitcoin in 2018, it bounced against Bitcoin in 2019, but by the end of 2019, it had come all the way back down to 25% of Bitcoin’s market cap…

[The 2019 altcoin rally] bounced back up to the bull market support band at around 0.53, so that’s right around where the bull market support band is right now, maybe slightly lower, it’s at 0.52, so 52%…

My guess is that the Bitcoin dominance rally will eventually continue. It might be backtesting that 49% to 50% level, but my guess is that it will eventually continue, and it’ll be because net liquidity starts to go back down again.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • Venom Foundation Achieves 150,000 TPS in Closed-Network Stress Test, Paving the Way for 2025 Mainnet Upgrade
    May 23, 2025
  • XDC Network’s XVC Tech Announces Investment in Laser Digital Carry Fund, Launches Institutional Fund Infrastructure With Libre
    May 22, 2025
  • Psy Develops First Trustless Bridge From Dogecoin to Solana
    May 22, 2025
  • Mantle and Republic Technologies Forge Strategic Partnership To Pioneer Institutional mETH Integration
    May 22, 2025
  • BTCC Exchange Appoints Dan Liu as CEO Ahead of 14th Anniversary Milestone
    May 21, 2025
  • Bitcoin Suisse Secures In-Principle Approval From ADGM’s Financial Services Regulatory Authority
    May 21, 2025
  • Beer 2.0 – The Memecoin That’s Brewing Something Bigger on Solana
    May 20, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$108,213.99
$108,213.99
0.11%
Ethereum
$2,517.13
$2,517.13
1.27%
BNB
$666.69
$666.69
0.35%
Solana
$173.74
$173.74
0.67%
XRP
$2.32
$2.32
0.47%

Spotlight

  • Bitcoin Cycle Peak Coming Next Year, Says Crypto Analyst Jason Pizzino – Here Are His Targets
    May 17, 2025
  • Here’s How Bitcoin Explodes To Up to $200,000 This Summer, According to BitMEX Founder Arthur Hayes
    May 17, 2025
  • Thousands of Customers’ Names, Addresses, Birthdays and Other Info Leaked in Cyber Attack on Retail Giant: Report
    May 17, 2025
  • Major Bank Handing $4,100,000 To Americans After Allegedly Hammering Thousands of People With Unwanted Phone Calls
    May 17, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl