According to crypto strategist Benjamin Cowen, Bitcoin may continue to fall even after correcting by over 15% from its 2023 high reached last month. Cowen suggests that the current crypto downturn follows a pattern that occurs every four years, with the S&P 500 stock index tending to experience a correction in August or September of its pre-election year. Cowen notes that Bitcoin has historically plummeted by between 39% and 83% during previous "secondary scares," and outlines three potential scenarios for how low Bitcoin could fall based on historical precedent. As of writing, Bitcoin is trading at $26,423.
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