Popular Crypto analyst and trader Benjamin Cowen says one astronomical price target for Bitcoin (BTC) for this cycle remains.
In a new interview with Kyle Chasse on his YouTube channel, Cowen says that if the flagship cryptocurrency is currently in a right-translated cycle, or a market cycle where prices tend to peak later than before, Bitcoin could surge as high as $200,000.
“You’d say you’ll get the right translation cycle, where you could probably go up to about 10 times from the bitcoin at the bottom and you could probably spend around $150,000. You’ll end up at $300,000, but I don’t think it’ll be this cycle.”
He says Bitcoin needs to keep its high of around $72,000 on its weekly charts.
“Anything is possible. And if we can ensure we can hold on to the 2024 high (about $72,000 on the weekly chart) and start a setback, I will certainly be optimistic. I will be more optimistic later this year. That’s my main concern. The Bulls have not yet tested these levels so we will try to keep the line at these levels.”
Bitcoin is trading at $84,483 at the time of writing and is flat for the day.
https://www.youtube.com/watch?v=ntkdvwum1y
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