Cowen Forecasts One More Decline Before Cryptocurrency Bottom

Cryptocurrency analyst Benjamin Cowen believes that the market has not yet reached its bottom. Despite being 62% undervalued relative to fair value, cryptocurrencies may see one more decline in the third quarter due to seasonal factors and rising Treasury yields.

Cowen also forecasts another bear market phase could emerge within the next two to three weeks. This downturn would be followed by a bottom forming around November, marking the start of a new bull cycle.