币界网报道：Bitcoin Price Prediction Goes Awry as Market Volatility Spikes Prominent crypto analyst Benjamin Cowen has retracted his earlier Bitcoin price prediction of $250,000 per BTC, citing unexpected market conditions and regulatory uncertainty. In a recent YouTube update, Cowen acknowledged his forecast made during the 2021 bull run failed to materialize due to changing macroeconomic factors including aggressive Federal Reserve rate hikes and tighter crypto regulations. The analyst noted Bitcoin's price action has been heavily influenced by traditional financial markets in 2023, with the cryptocurrency showing strong correlation to NASDAQ movements. While maintaining long-term bullish sentiment, Cowen now advises investors to focus on Bitcoin's relative strength against altcoins rather than specific price targets. He highlighted Bitcoin's dominance index rising from 38% to 48% in 2023 as evidence of its resilience compared to other digital assets. The revised outlook comes as Bitcoin struggles to maintain momentum above $30,000 after failing to break through key resistance levels multiple times this year. Cowen emphasized the importance of risk management in current market conditions, suggesting dollar-cost averaging as the optimal strategy for most retail investors. The analyst's changed stance reflects broader uncertainty in crypto markets amid ongoing SEC enforcement actions and mixed signals about potential Bitcoin ETF approvals.