Analyst Benjamin Cowen says Polkadot (DOT) is aiming for an all-time high.
In one Strategy meeting Newly, Cowen said that DOT is “very, very likely” in a replenishment phase, forming a similar pattern as it did in late 2020, right before it exploded from $ 3 to nearly $ 50 in a matter of weeks.
“My guess, which may not be clear, is that in this area, re-accumulation will inevitably take the DOT to a higher level. I would also speculate that the next step could help the price climb above the $ 100 mark. I really hope it gets us above the $ 200 mark and maybe even beyond. Let’s just take it one step at a time. “
With a current value of $ 36.7 for Polkadot, exceeding $ 100 means a potential gain of about 200%.
Cowen doesn’t expect the market to peak in the next few months. Instead, he believes the crypto market still has plenty of time and Polkadot will play an important role in it.
“I think Polkadot is a great project and it plays an important part in this cycle. Again, I don’t think the cycle is over. I know a lot of people say the cycle will peak in a few months, but I don’t think so. I might be wrong, and at this point we need to look at the market, but I don’t think the market cycle will peak in the next few months.
The DOT could stay in this range for the next few weeks or months, but that shouldn’t be a problem. The problem is, periods like these are often seen as opportunities, and when an outbreak occurs many people wish they could buy at lower prices. “
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According to Dailyhodl