As Bitcoin remains stable between $84K to $85K, optimism persists amidst external challenges. Analyst Cowen predicts potential peaks of $120,000 to $150,000 for Bitcoin, emphasising market cycles. Ethereum may rebound after current corrections, while Cardano faces short-term issues but possesses long-term potential due to ongoing developments.
As the second quarter commences, optimism surrounds cryptocurrency markets, with Bitcoin trading between $84,000 and $85,000. Despite potential threats such as Trump’s tariff decisions, inflation, a global economic slowdown, and rising interest rates, the market exhibits notable stability. Recent fluctuations in Bitcoin prices are considered part of a broader trend indicating a positive long-term trajectory.
In an interview on the Altcoin Daily podcast, analyst Cowen suggests that Bitcoin’s stability hinges on staying above its 2024 high of $72,000. Should it drop below this threshold and remain there, it could signify an early end to the current bull run, commonly referred to as a “left translated cycle.” However, as of now, no such indicator is present, and Cowen anticipates a potential peak for Bitcoin later in the cycle, estimating prices between $120,000 and $150,000, with an optimistic target of $200,000 under ideal conditions. Cowen dismissed the prospect of Bitcoin hitting $300,000 within the current market cycle but remains confident this target is attainable in the future.
Cowan cautions that the timeframe is crucial, predicting a challenging 2026 for crypto markets, akin to the downturns witnessed in 2018 and 2022. In case of significant price dips, he recommends against panic selling, stating that a lower high could materialise later in the year, presenting opportunities for investors to adjust their positions. These minor fluctuations are typical market behaviour unless they trigger a prolonged downtrend.
Concerning Ethereum, Cowen remains hopeful despite short-term struggles. He views the current price correction as a necessary adjustment back towards its long-term fair value, aligning with Federal Reserve policies. Cowen projects a rebound range of $1,200 to $1,600 once monetary conditions stabilise.
Conversely, Cowen holds a pessimistic outlook for Cardano in the near term, suggesting a repetitive decline similar to last year’s performance against Bitcoin. Without favourable market changes, a significant price increase for Cardano may not occur until late 2025.
In response to common inquiries, Cowen posits that while Bitcoin may near $300,000 or beyond by 2030, the ongoing crypto cycle will not support such a rise. In terms of Ethereum investments, the current altcoin season indicates potential short-term gains, positioning Ethereum as a worthwhile acquisition alongside its long-term capabilities as a programmable blockchain. As for Cardano, despite its recent struggles, ongoing developmental upgrades suggest its potential for price enhancement in the near future.
