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‘Very Dubious’ Speculation Suggests Bitcoin Could Follow Nasdaq ETF Rallies of 1999: Benjamin Cowen
Mark Emem
January 8, 2025

Benjamin Cowen is saying that the price action of Bitcoin (BTC) could mirror that of the Nasdaq exchange-traded fund (ETF) Invesco QQQ during the first 13 months that followed its launch about 26 years ago.
In a new video, Cowen tells his 855,000 YouTube subscribers that the QQQ ETF hit a local top after going up by 150% in roughly one year following the launch of the ETF.
The QQQ ETF tracks the performance of the 100 largest non-financial firms listed on the Nasdaq stock exchange.
As the flagship digital asset approaches the first anniversary since the launch of the spot Bitcoin ETF, Cowen says the crypto king could replicate similar price action, though it’s unlikely to “play out the exact same way.”
“In 1999 the QQQ ETF launched in March and it rallied from around $48 to $120. And that Rally from $48 to $120 took about 54 weeks – $48 to $120…
…if you look at Bitcoin’s ETF, it launched at around $48,000… if you look at the launch of the spot ETF for Bitcoin it wicked up to $48,000 instead of down to it like it did with the QQQ [ETF]. But interestingly enough, 54 weeks later is January 20th – Inauguration Day [of President-elect Donald Trump], which is interesting because 54 weeks after this launch of the QQQ, it was 54 weeks later the QQQ went from like $48 to $120.