Bitcoin Could Soar 137% According to Analyst Benjamin Cowen

Analyst Benjamin Cowen predicts Bitcoin could surge 137% to $200,000 in ideal conditions. He expects Bitcoin to reach around $150,000 if it stays above $72,000 on the weekly chart. Despite not anticipating $300,000 this cycle, he maintains a positive long-term outlook for Bitcoin.

Cryptocurrency analyst Benjamin Cowen predicts a potential 137% increase in Bitcoin’s value if market conditions are ideal. He forecasts Bitcoin could reach as high as $200,000 within a correctly trending market cycle, defined as one where prices peak later rather than earlier. Despite this positive outlook, Cowen is sceptical about Bitcoin achieving $300,000 in the current cycle but maintains it will eventually hit that figure.

During an interview, Cowen stated that Bitcoin could experience a significant increase, potentially reaching around $150,000 if it maintains its recent highs. He emphasised the importance of Bitcoin staying above $72,000 on the weekly chart for future highs. Cowen expressed optimism for the latter part of the year if Bitcoin successfully holds these levels, even amidst possible market pullbacks.

At the time of reporting, Bitcoin was trading at approximately $84,483 without notable fluctuations. Cowen highlighted the importance of Bitcoin’s performance during challenging market conditions, which can significantly influence its future trend. His forecast of a 137% rise accentuates both the volatility of the cryptocurrency market and the growth potential Bitcoin still possesses.