Bankless
Bankless

Where is Crypto Going in 2026? | Ben Cowen

December 23, 2025

AI Summary

5 min read

🎙️ The Voices & The Context

  • The Format: This interview dives deep into cryptocurrency market cycles and predictions through shared charts and historical analogies, blending data-driven analysis with forward-looking speculation on Bitcoin and Ethereum's trajectories. Analytical and prognostic.
  • The Format: An interview.
  • The Key Players:
    • Guest: Ben Cowen – Renowned crypto analyst and YouTuber (@intothecryptoverse) famous for his meticulous chart-based cycle predictions, regression bands, and macro overlays that have accurately forecasted past Bitcoin tops and bottoms.

🗝️ Key Themes & Topics

The episode unpacks the crypto market's current bearish turn, Ethereum's potential path to new highs amid Bitcoin dominance, and macroeconomic barriers stifling altcoin rallies, while pondering long-term adoption and investor patience.

  • Topic 1: Crypto Cycle Completion – Hosts confirm the four-year Bitcoin cycle has likely topped after ~1,060 days (matching prior cycles), signaling no broad alt season but possible isolated all-time highs for select coins like Ethereum; social apathy mirrors 2019, not euphoric 2017/2021 peaks.
  • Topic 2: Ethereum's Bull Case Amid Bear Market – Detailed chart analysis posits Ethereum could hit $5,300 (0.053 ETH/BTC ratio at Bitcoin's $100K 50-week MA), drawing Tesla stock parallels for a higher low, sweep of prior h

Continue reading the full summary in the app — free to try.

Read Full Summary →

Free • No credit card required

What you'll learn

  • 1 **(00:00) 🎙️ Introduction: Benjamin Cowen**
  • 2 **(00:09) Bitcoin Cycle Over?**
  • 3 **(00:50) Implications for Broader Crypto Cycle**
  • 4 **(01:31) Ethereum's Cycle Performance**
  • 5 **(03:16) Ethereum-Tesla Chart Comparison**
  • 6 **(04:57) Ethereum 2026 Scenarios**
  • 7 **(05:51) Two ETH Paths Forward**

+ Full timestamped outline available in the app

Show Notes

Is the crypto cycle already over? Ben Cowen returns to break down what a post-euphoria cycle looks like, why Bitcoin may have already topped, and how 2026 could play out across crypto, stocks, and macro. We explore the case for a prolonged bear market, why a true alt season may not arrive, and the narrow scenarios where Ethereum could still make a fleeting run at new highs. From Fed policy and labor markets to AI stealing investor attention, this episode maps the competing paths ahead and what patient investors should be watching next.


------
📣INTO THE CRYPTOVERSE | GET 10% OFF

https://intothecryptoverse.com/ref/bankless/


------

BANKLESS SPONSOR TOOLS:


🔵COINBASE | ETH & BTC BACKED LOANS

https://bankless.cc/coinbase-borrow


🪙FRAXNET | MINT, REDEEM, & EARN 

https://bankless.cc/fraxnet


🦄UNISWAP | CONTINUOUS CLEARING AUCTIONS 

https://bankless.cc/uniswap-cca


🛞MANTLE | GLOBAL HACKATHON 2025

https://bankless.cc/mantle-hackathon


đź’¤EIGHT SLEEP | IMPROVE YOUR SLEEP

https://bankless.cc/eight-sleep


------

TIMESTAMPS


0:00 Intro

0:49 Bitcoin's Cycle & its Implications

2:18 Ethereum's Performance & Expectations

8:58 Future Predictions for Ethereum

10:39 Comparing Ethereum to Tesla

12:32 The State of the Altcoin Market

18:26 Disappointment & Hope for ETH Holders

20:23 Macro Factors Affecting Crypto

24:37 Why No Euphoria This Cycle?

32:56 The Shift of Investor Attention

37:56 The Future of Crypto Cycles

44:16 The Need for Utility in Crypto

56:14 Gold vs. Bitcoin: A Comparison

59:45 Bitcoin's Unique Position in the Market

1:02:31 Patience and Strategy for Crypto Investors

1:06:01 Closing & Disclaimers


------

RESOURCES


Ben Cowen

https://x.com/intocryptoverse


Ben’s Channel

https://www.youtube.com/@intothecryptoverse


<
Bankless

More from this podcast

Bankless →