Popular cryptocurrency analyst Benjamin Cowen stated that if Bitcoin exhibits a “right-leaning” formation in the current cycle, its price could reach the range of 120,000 to 150,000 dollars; in a perfect scenario, it could test 200,000 dollars.
Cowen stated the following in a YouTube interview:
“In a right-leaning cycle, it is possible for us to see an increase of approximately 10 times from the bottom. This would push BTC up to 150 thousand dollars. Under ideal conditions, we could witness a rally that goes up to 200 thousand dollars. However, I believe we will not see 300 thousand dollars in this cycle.”
According to Cowen, for Bitcoin to reach new peaks, it is critically important to hold the 72 thousand dollars, which is the 2024 peak on the weekly chart, as support.
“Everything is possible. Especially if we can maintain the $72,000 level, I will be more optimistic in the later periods of the year. My current concern is whether we can hold this level against a possible pullback.”
At the time the news was written, BTC is trading at 85 thousand 230 dollars.
Published: April 19, 2025 16:49
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