Benjamin Cowen: My flagship market model is “dead”-Bitcoin has shown the mirror

One of the most well-known and renowned cryptocurrency market experts, Benjamin Cowen, has conceded that his flagship market model is “dead.” 

He said so in light of Bitcoin’s recent price drop, while simultaneously disproving the premise he has been promoting since 2019.

Benjamin Cowen is “that one”

Benjamin Cowen is one of the most well-known cryptocurrency experts, commentators, and YouTubers. His YouTube account has 734,000 subscribers and his Twitter profile has 636,000 followers.

Cowen’s unique social media management technique is characterized by a lack of revenue from YouTube ads or third-party service marketing (exchanges, services, brands, or cryptocurrency tokens). For years, his frank, minimalist videos have been recorded in a room with two seats, a cardboard desk, and a laptop camera.

Cowen has PlanB

The idea regarding Bitcoin’s extended cycles is one of the primary hypotheses on which he has built his popularity. The following assumptions underpin this hypothesis:

Many crypto investors and fans moved to Cowen’s extending cycle model once the S2F model (at least partially) collapsed. 

The target range of $100-200k appeared to be still possible for Bitcoin, but it would take more time. Arguments for a rise in the crypto sector’s market capitalization backed up this story.

In the Bitcoin market, there are cycles that consist of accumulation, dynamic uptrend, and sharp decline; successive cycles last longer, producing diminishing returns (ROI); a long-term model of the BTC market is bands of logarithmic regression, the upper border of which determines the peaks, and the lower border – the bottoms;

Since at least 2019, Benjamin Cowen has been a vocal supporter of this concept. He based his faith in the model’s validity on the fact that it, as he stated, best matched the historical evidence.

Cowen had an interesting conversation with PlanB, the author of the Bitcoin Stock-to-Flow (S2F) model, in August 2021.

The S2F model is commonly regarded to have failed in late 2021 when the price of BTC fell far below it. Or, as PlanB himself explains, the so-called Floor Model, which predicted a price of $100,000 for Bitcoin in December 2021, failed.

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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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