Kevin Capital Sees Opportunity in Bear Market Bottom

Crypto analyst Kevin Capital is buying Bitcoin even though he thinks it could still drop to $44,000 in the long term. He believes that the current bear market will bottom out between July and October, which has prompted him to start dollar-cost averaging into BTC.

Capital noted that Bitcoin has spent around 10 months in a bear-market drawdown, which is shorter than the 12-to-14-month declines seen in previous crypto cycles. He also pointed out that investors who bought during the summer of the 2022 bear market still captured most of the subsequent upside.

Capital cautioned that waiting for an exact price target can be dangerous and cause investors to miss the broader recovery. He emphasized that analysis is not about pinpointing perfect entries, but rather limiting downside risk and giving potential gains as much benefit as possible.