Renowned cryptocurrency analyst Benjamin Cowen indicated that Bitcoin (BTC ($108,574.00)) 
$99,148 is unlikely to deliver returns as high as it did in the last market cycle. In his recent market analysis, Cowen stated that Bitcoin’s return on investment (ROI) could decline compared to previous cycles.
ROI Compared to the Past
Cowen noted, “Two cycles ago – meaning market cycle three – Bitcoin’s ROI during this cycle was about 5.55 times. Currently, Bitcoin’s ROI measured from the low is between 6.1-7 times.” He also mentioned that the ROI at the same point in the previous cycle was 9.9 times. This data suggests that the current cycle’s ROI is fluctuating between the last two cycles.
Cowen predicts that as Bitcoin’s market capitalization increases, the returns will decrease.
“This mirrors the situation in the last cycle, where everyone was discussing declining returns, and there was disagreement on how long it would last. Many be...
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