Renowned cryptocurrency analyst Benjamin Cowen, known in the markets, shared a potential price target for Bitcoin (BTC) with his followers, based on historical market cycle models. According to the analyst, if his assumptions come true, Bitcoin could reach a level of $111,000.
The Situation That Will Bring the Rise in Bitcoin!
Popular crypto analyst Benjamin Cowen discussed logarithmic regression bands, which aim to determine the potential peaks and bottoms of market cycles based on decreasing volatility. Benjamin Cowen stated that each market cycle peak is below two and a half logarithmic regression bands of the previous one.
According to the analyst, considering the current position, the all-time high level of $69,000 is currently below two and a half bands at the $45,000 level. However, if we assume that the cycle will end in late 2025, BTC could actually approach $100,000 as the band rises. Benjamin Cowen stated the following in his statements:
The problem right now is that from where this peak is, two and a half log lines below, it brings you to this logarithmic regression trend line that is currently around $45,000 to $46,000… It may be a bit discouraging to hear, but you should also keep in mind that we have seen that these major peaks usually occur in the fourth quarter of the year following the halving. So, although it is true that in the current position, the two and a half day cut is only between $45,000 and $46,000, it might look very different and we can really reflect that by the end of 2025… Towards the end of 2025, this will correspond to just above $100,000…
$111,000 Target in Bitcoin
Based on the logarithmic regression rainbow, Benjamin Cowen claimed that BTC, the leading cryptocurrency, could reach a peak of around $111,000 in about two years. As a result, based on historical market cycle models, Benjamin Cowen suggested that Bitcoin could reach $111,000 by the end of 2025. Cowen stated that using logarithmic regression bands, BTC is currently below $69,000, but with rising bands, it could approach $100,000 in 2025.
As of the writing of this article, according to data from the website 21milyon.com, the flagship of the markets, Bitcoin, is trading at $37,109.
