Bitcoin (CRYPTO: BTC) may have already seen its cycle bottom, but crypto analyst Benjamin Cowen says the historical midterm-year playbook leaves room for one more sharp selloff before the end of the year.
Why Cowen Started Buying Bitcoin
Cowen, who began accumulating Bitcoin after it briefly fell below $60,000 in July, said he is using a "dynamic DCA" strategy rather than betting that the bottom is definitively in.
His strategy involves purchasing during the second half of U.S. midterm election years, following the same approach he used in 2018 and 2022.
Historically, he said, Bitcoin tends to weaken during the first half of midterm years, with rallies frequently turning into lower highs before conditions improve later in the year.
