Bitcoin, is it okay to buy now? When will the 'real decline' begin, according to experts?

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While Bitcoin (BTC) continues its short-term upward trend, warnings are emerging from within the market that the next major decline is already imminent.

According to The Crypto Basic on April 27 (local time), cryptocurrency analyst Benjamin Cowen predicted that Bitcoin's next bearish reversal is highly likely to begin between May and June. Specifically, he stated that downward pressure could intensify in approximately 3 to 34 days from the current point in time.

Cowen assessed that the recent upward trend is not a full-fledged bull market but rather a limited rebound period. The market may repeat a pattern of short-term gains followed by a decline, and the overall structure remains in a bearish trend, according to his analysis.

Regarding the $65,600 low formed in early April, he warned by citing past examples. He mentioned that both 2014 and 2018 saw larger declines after short-term rebounds, explaining that a similar development cannot be ruled out for the current structure.

He did not deny the market rebound itself. However, the key variable was identified as the trend that follows the rise. Indeed, past cycles repeatedly showed additional declines after strong rebounds, and the same pattern is observed to potentially continue this time.

Cowen predicted that Bitcoin is likely to form a bottom only in the fourth quarter of this year. Only then, he expects, could a full recovery and a new upward cycle begin.

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