Crypto Analysts Not Rule Out Bitcoin 70% Drop

A crypto analyst predicts that Bitcoin may fall up to 70% during the next bear-market. 

Analysts are divided on Bitcoin’s future. Others believe a bearish market could be much closer than some think.

“I would say maybe a 70% drawdown from whatever the all-time high ends up,” Cowen told Kyle Chasse noted in an article published Thursday that Bitcoin was a bear market during previous cycles.BTCThe corresponding drawdowns are 94% (or 87%), 77% (77%), and approximately 77% (94%).

“Does it have to happen? No, but you know, history would at least caution us to at least believe that it might.”

The price of Bitcoin would plummet from $250,000.

Bitcoin enthusiasts, like BitMEX founder Arthur Hayes who projected prices of up to $250,000 at the end this year, would see a drop by 70%, which brings it down around $75,000

Cowen said “If we start screaming higher in Q4 for me, it’ll just be simple like, all right, this time’s not different, I’ll just take profits back to stables.” The re-entry date could be as late as mid-2026.

Bitcoin has risen by 3.41% since the 30th day to $117,010. according CoinMarketCap is a great place to start.

Cowen warned that investors should be prepared for another big rally and not to underestimate just how fast it can peak.

“Obviously, investors are hopeful we are going to coil up and go into that final rally into the market cycle top,” He said that this should be the default case.

“But if that starts to happen, just remember the top could occur at any moment, right? …No one’s going to be like this is the top,” He said.

“Everyone’s going to be euphoric if we start to see a move up,” He added.

ETH will surpass Bitcoin towards the end cycle

Cowen expects Ether to be released as well.ETH” “struggle against” Bitcoin is still expected to perform well for the next few weeks. However, it’s likely that Bitcoin will outperform the market at the end. 

“Until the end of the cycle, Ethereum will likely outperform right from now until the end,” Cowen said.

“I expect weakness through the month of October for ETH,” “, he said. The ETH/BTC rate, which is a measure of Ether’s relative value to Bitcoin, has risen by 8.56% in the past thirty days. according TradingView.

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Bitcoiners are divided on whether the price of Bitcoin will continue to follow its four-year cycle. Others remain unsure.

Bitwise chief investment officer Matt Hougan said, “I bet 2026 is an up year.” “I broadly think we’re in for a good few years,” Hougan added.

Canary Capital Chief Executive Officer Steven McClurg recently said, “I think there is a greater than 50% chance Bitcoin goes to the 140 to 150 range this year before we see another bear market next year.”

Meanwhile, Strategy executive chairman Michael Saylor stated in June. “Winter is not coming back.”

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