By Bardil 
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Renowned crypto analyst and trader BENJAMIN COWEN has outlined a bullish outlook for Bitcoin (BTC), suggesting the flagship cryptocurrency could potentially surge to $200,000 under optimal market conditions.
In a recent exclusive interview with KYLE CHASSE on his YouTube channel, BENJAMIN COWEN discussed Bitcoin’s trajectory, emphasizing the possibility of a “right-translated cycle” — a market phase where prices peak later rather than earlier.
“I would say that it’s possible if we get a right-translated cycle that from the bottom Bitcoin could go up about 10x or something, which would probably put it around $150,000. So I would say, in a right translated cycle my guess is that it would be anywhere from like $120,000 to like $150,000. It’s possible in the perfect scenario that it could go all the way up to $200,000. I don’t think Bitcoin will hit $300,000 this cycle. I do think Bitcoin will eventually hit $300,000, but I don’t think it will be this cycle,” Cowen explained.
He also stressed the importance of Bitcoin maintaining critical support levels to sustain its upward momentum. Specifically, Cowen highlighted the need for BTC to hold above its 2024 high of approximately $72,000 on the weekly chart.
“Anything is possible. And I would certainly be more optimistic if we can definitively hold that 2024 high [around $72,000 on the weekly chart] and start to move back up. I would definitely become more optimistic later on this year. That’s my main concern right now, is, if there is another pullback, can we hold it? The good news is we’ve held it so far, and we actually technically we haven’t even tested it. So the good news is if there is another drop, you probably would have some bulls try to hold the line at those levels because we haven’t even tested those levels yet,” he added.
At the time of writing, Bitcoin is trading at $84,483, showing minimal movement over the past 24 hours.
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Sources: YouTube
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