Benjamin Cowen Admits He Was Wrong About Bitcoin

Analyst Benjamin Cowen stated that he was wrong after Bitcoin surpassed $85,000. Cowen, who had long been discussing the possibility of a new low for Bitcoin, said, "I was wrong. I won't make excuses. I deserve to be mocked." Cowen had indicated a cautious approach for Bitcoin in the second half of 2026. In his assessment on September 8, he evaluated the likelihood that the cycle's lowest point for Bitcoin had not yet been seen at 65%. Cowen believed that Bitcoin could test $53,200. He argued that Bitcoin could move downward again in the latter part of the year during U.S. midterm election years like 2014, 2018, and 2022. When Bitcoin rose to $81,280, Cowen expressed that it was too early to say the bear market had ended. He noted that Bitcoin's weekly close should be above the 50-week moving average. Bitcoin closed the week at $81,159, remaining above the 50-week moving average of $78,788. This marked the first weekly close above that average since November 2025. Subsequently, Bitcoin rose above $85,000, reaching its highest level in eight months.

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