Benjamin Cowen 5.0 1 idea

Speaker explicitly stated that Bitcoin is not at the bottom, will likely go lower as the year goes on, and expects around a 70% drop from the peak. Historical midterm year patterns show Bitcoin underperforms, on-chain indicators (e.g., realized price, balance price) haven't signaled a bottom, and the late business cycle environment creates macro headwinds. Bitcoin is unattractive in the medium-term with significant downside risk, warranting avoidance. An earlier reset of the business cycle or unexpected monetary easing (e.g., Fed printing) could catalyze a sooner bottom.