Is Bitcoin in a Bear Market? Crypto Analyst Benjamin Cowen Updates Outlook on BTC

Is Bitcoin in a Bear Market? Crypto Analyst Benjamin Cowen Updates Outlook on BTC


Popular crypto trader Benjamin Cowen doesn’t think Bitcoin (BTC) is likely to escape its price doldrums any time soon.

The analyst tells his 687,000 YouTube subscribers that Bitcoin has fallen far short of its bull market support band, a market indicator derived from the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA).

BTC is currently trading at $42,246, which is way below the 20-week SMA ($52,400) and the 21-week EMA ($49,600).

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Yes, the market is bearish.

You’re better off just calling it what it is, right?

The market is bearish right now.” 

As for the first quarter this year, the crypto trader believes that BTC will likely not print mind-blowing gains in the coming months.

“It’s going to be

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