Crypto Expert Warns Bitcoin Could Face Correction Post-Election, Eyes 2025 Rally
Popular crypto analyst Benjamin Cowen has raised concerns about Bitcoin's (BTC) potential price movement, particularly as it approaches its all-time high.
Cowen speculated that Bitcoin might experience a downturn following the US general election, potentially around early December.
He suggested that the market could face a significant drop after the election results are in, possibly triggered by the release of the December Non-Farm Payroll report on December 6th. Cowen warned that Bitcoin could fall anywhere from 12% to 46% from its current value.
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However, he remains uncertain whether this decline would merely be a retest of the $65,000 level before pushing higher, or if it could dip further to around $40,000 before regaining momentum.
As of now, Bitcoin is trading at approximately $73,813, just under its all-time high of around $75,400.
Cowen emphasized that any potential correction in December, if it occurs, is likely to be short-lived.
He speculated that, even if Bitcoin drops, it could ultimately lead to a rally towards new highs in 2025, suggesting a softer landing rather than the end of the bullish cycle.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
