Benjamin Cowen, a popular crypto trader and analyst, says Bitcoin’s (BTC) price is still astronomical for this cycle.
Cowen, in an interview on Kyle Chasse’s YouTube channel says Bitcoin could surge as high as $200,000. This is if it enters a “right-translated” cycle. In this market cycle prices peak later than they do earlier.
I would suggest that if we have a cycle of right translation, Bitcoin’s price could rise by 10x from its current level. This would put the Bitcoin value at around $150,000. In a right-translated cycle, I’d say that the price would range from $120,000 up to $150,000. In a perfect world, it’s even possible that Bitcoin could reach $200,000. Bitcoin is not going to hit $300,000. “I do believe Bitcoin will hit $300,000. But I don’t expect it to be in this cycle.”
According to him, Bitcoin must hold its 2024 peak of $72,000 per week on the chart in order to continue on course to reach new all-time records this cycle.
Everything is possible. “Anything is possible.” Later this year, I’d be more optimistic. My main concern is whether we can hold on if another pullback occurs. We’ve actually not even tried to test it yet. The good news is that if the market drops again, some bulls will probably try to maintain the current levels. We haven’t tested them yet .”
Bitcoin has a value of $84,483 as at the time this article was written, which is flat for the day.
Join us at X@InvCryptoDaily and don’t miss a beat – subscribe to receive email alerts directly in your mailbox ___________________ ___________________
Image generated: midjourney
The post Bitcoin Could Rally by 137% In a “Perfect Scenario,” According to Benjamin Cowen, Analyst – This is His Outlook could be updated as new information becomes available.
This site is for entertainment only. Click here to read more
