Bitcoin’s Impending Doom?

by

The whims of fate, how they toy with us! A certain crypto analyst, a sage of the digital realm, has decreed that Bitcoin‘s current bull market cycle may soon meet its demise. But fear not, dear reader, for this prophecy is not set in stone… yet. 🤔

In a recent YouTube video, the esteemed Benjamin Cowen shared his thoughts with his 904,000 disciples, warning that a Bitcoin price dip below the 50-week simple moving average (SMA) on the weekly timeframe may signal the end of the bull cycle. Ah, the horror! 😱

So long as the 50-week SMA holds, the structure of the market remains intact. A weekly close below that would call things into question… Ah, but what a deliciously ominous phrase: “call things into question.” It’s enough to send shivers down the spine of even the most hardened investor! 😂

In this case, we have an indicator that should tell us that the cycle is over whenever we get these weekly closes below the 50-week moving average. It hasn’t happened yet. Now, w Will Bitcoin hold the line, or will it succumb to the void? 🤯

But fear not, dear reader, for Cowen also prophesies that Bitcoin may test the 50-week SMA in the third quarter of 2025, only to emerge victorious, its bull cycle intact. The drama! The intrigue! 🎭

“The argument in this case is that as long as we’re above that [50-week SMA], then the structure of the market, the integrity of the cycle, is intact. And is there a chance we test it again in Q3? Absolutely. We tested it last Q3. We tested it almost basically the third quarter before that.” Ah, the thrill of the unknown! Will Bitcoin pass the test, or will it falter? 🤔

And so, dear reader, we leave you with this: Bitcoin is trading for $108,218 at time of writing, flat on the day. But for how long? Only time will tell. ⏰

Read More

2025-07-07 22:02