Benjamin Cowen Warns Silver’s 60% Crash May Be A ‘Warning Sign’ For BTC — And The Bottom May Not Be In Yet

• Bitcoin went from $15,000 to $126,000, Cowen said, while silver went to $120 before falling to around $49.

• Historical cycles suggest silver often bottoms before Bitcoin, including in August 2022 and November 2018.

• Cowen also cited the 2008 financial crisis, when silver bottomed in October, months before the S&P 500 bottomed in March 2009.

Silver's drop from its all-time high could be a hint of what Bitcoin (BTC) will do next, said Into The Cryptoverse founder Benjamin Cowen.

On Sunday, Cowen drew the parallel between the two assets. He said Bitcoin began its latest rally near $15,000 and silver began between $15 and $17 an ounce. Both then peaked at similar heights, with Bitcoin peaking at $126,000 and silver at $120.

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Silver has since dropped to around $49, said Cowen, while Bitcoin was trading near $78,000.

Metals First To Go Down, Stocks Follow

Metals have often found a floor before Bitcoin in past cycles, Cowen said. Silver made a bottom in August 2022, with Bitcoin two months later, he said. Silver bottomed in November 2018, Bitcoin a month later.

He also cited the 2008 financial crisis when silver hit bottom in October, while the S&P 500 didn't bottom until March 2009. Silver plunged from a high of $21.36 an ounce in 2008 to an intraday low of $8.46 that October, according to daily trading data. The London fix tumbled to a low of $8.88 on Oct. 24, 2008. By the end of the year, silver had come back to $11.39. But stocks continued to decline.