Bitcoin Price Prediction: Analyst Benjamin Cowen Projects Up to $200,000

Analyst Benjamin Cowen predicts Bitcoin could rise to $200,000 in a perfect scenario during this cycle, contingent on a right-translated market cycle. He estimates Bitcoin’s potential peaks between $120,000 to $150,000, stressing the importance of maintaining a minimum price of $72,000 to sustain upward momentum, with current trading at $84,483.

Cryptocurrency analyst Benjamin Cowen highlights a potential price target for Bitcoin (BTC), suggesting it could reach as high as $200,000 under ideal market conditions. In a recent interview, Cowen indicated that, if Bitcoin is experiencing a right-translated cycle—where market peaks occur later rather than earlier—prices could rise significantly from current levels.

He estimates that Bitcoin could rise up to tenfold from its lows, projecting a range of $120,000 to $150,000 for the cycle’s peak. However, he does not foresee Bitcoin reaching $300,000 in the current cycle, although he is optimistic it may occur eventually.

For Bitcoin to maintain its trajectory towards new all-time highs, it is crucial to hold the 2024 high of around $72,000 on the weekly chart. Cowen emphasises that maintaining this level, particularly amid market fluctuations, will influence his optimism regarding Bitcoin’s performance later this year. Currently, Bitcoin is trading at approximately $84,483 with stable pricing.