科恩說

第二季度的開始給加密貨幣資產帶來了一些希望，比特幣交易的價格為8.4萬美元至8.5萬美元，儘管特朗普的關稅決策，通貨膨脹，全球經濟放緩和利率問題的危險迫在眉睫，但市場看起來很穩定。

The start of the second quarter has given some hope to the crypto assets with Bitcoin trading at the range of $84K to $85K, the market looks quite stable despite the looming dangers of Trump’s Tariff decisions, inflation, global economic slowdown, and interest rate concerns.

第二季度的開始給加密貨幣資產帶來了一些希望，比特幣交易的價格為8.4萬美元至8.5萬美元，儘管特朗普的關稅決策，通貨膨脹，全球經濟放緩和利率問題的危險迫在眉睫，但市場看起來很穩定。

Bitcoin’s recent price swings might look unstable, but it’s all part of the larger trend, which still points toward a positive long-term outlook.

比特幣最近的價格波動可能看起來不穩定，但這是更大趨勢的一部分，這仍然指向積極的長期前景。

How High Can BTC Price Go This Cycle?

BTC價格在這個週期中能有多高？

In a new podcast interview with host Austin Arnold on the Altcoin Daily channel, Cowen explains that the real worry would begin only if Bitcoin drops below its 2024 high of $72K and stays there. That could mean the current bull run has already ended earlier than expected, which is something analysts call a “left translated cycle.” But right now, there’s no clear sign that this is happening.

在Altcoin Daily Channel的主持人Austin Arnold的新播客採訪中，Cowen解釋說，真正的擔憂只有比特幣低於其2024年高點72K的高價並留在那裡。這可能意味著目前的牛跑已經比預期的要早，這是分析師稱之為“左翻譯週期”的東西。但是現在，沒有明確的跡象表明這正在發生。

Cowen believes the current market may follow a “right-translated cycle,” a pattern where Bitcoin peaks later in the cycle rather than early on. If that plays out, he expects Bitcoin to climb anywhere from $120,000 to $150,000, with a stretch target of $200,000 if conditions align perfectly. However, he ruled out the possibility of BTC hitting $300,000 in this cycle, though he’s confident it will reach that mark in the future.

Cowen認為當前的市場可能遵循“右翻譯週期”，這種模式在該模式中，比特幣在周期後期而不是早期達到頂峰。如果這種情況發生，他預計比特幣將攀升至120,000美元至150,000美元，如果條件完美地融合，則比特幣的目標為200,000美元。但是，他排除了BTC在這個週期中達到300,000美元的可能性，儘管他有信心將來它將達到這一目標。

However, he also warns that time is limited, as 2026 is expected to be a tough year for crypto markets, repeating what happened in 2018 and 2022. If a deeper pullback happens, Cowan advises against panic selling. Instead, he suggests that the market would likely produce a lower high later in the year, potentially allowing investors to exit or reposition.

但是，他還警告說，時間是有限的，因為預計2026年對於加密市場來說將是艱難的一年，重複2018年和2022年發生的事情。取而代之的是，他建議市場可能在今年晚些時候產生較低的高價，有可能允許投資者退出或重新定位。

According to Cowan, small dips like these are normal and don’t automatically mean the market is in trouble, unless the drop lasts too long and turns into a full-blown downtrend.

根據Cowan的說法，這樣的小蘸醬是正常的，並且不會自動意味著市場有麻煩，除非下降持續時間太長，並且變成了成熟的下降趨勢。

Ethereum and Cardano Price Forecast

以太坊和野馬價格預測

Apart from Bitcoin, Cowen believes that Ethereum still has hope, but it’s going through a painful period, yet a necessary correction. He thinks ETH is “going home” to its long-term fair value, just like its past cycles, which are mainly linked with the Fed’s policy. He sees a possible rebound of $1200-$1600, once the monetary policies stabilize.

除比特幣外，Cowen認為以太坊仍然有希望，但是經歷了痛苦的時期，但需要進行必要的更正。他認為，ETH“回家”具有長期的公允價值，就像過去的周期一樣，這主要與美聯儲的政策聯繫在一起。一旦貨幣政策穩定，他認為可能的籃板可能為1200-1600美元。

On the other side, for Cardano, he is not bullish in the short term, as he can see that Cardano is repeating last year’s pattern of slow decline against Bitcoin, and it may not rise until late 2025, unless market condition changes.

另一方面，對於Cardano來說，他在短期內並不是看好的，因為他可以看到Cardano正在重複去年對比特幣的緩慢下降模式，除非市場狀況發生變化，否則直到2025年下半年才可能上升。

FAQs

常見問題解答

While not this cycle, Cowen believes BTC could reach $300K or more by 2030 as adoption and market maturity grow.

儘管不是這個週期，但Cowen認為，隨著採用和市場成熟度的增長，到2030年，BTC可能會達到30萬美元或更多。

As the altcoin season begins, the short-term gains make Ethereum a lucrative buying option. However, the long-term promises of this programmable blockchain make it a viable long-term crypto investment.

隨著Altcoin季節的開始，短期收益使以太坊成為有利可圖的購買選擇。但是，該可編程區塊鏈的長期承諾使其成為可行的長期加密投資。

Cardano is not dead, as it is witnessing major developmental upgrades, which could boost ADA’s price in the near future.

Cardano並沒有死，因為它正在目睹重大的發展升級，這可能會在不久的將來提高Ada的價格。