Next step for Polkadot could push price up 200% or more, says crypto analyst Benjamin Cowen

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Closely followed crypto analyst Benjamin Cowen said Polkadot’s Next Step (DOT) may have enough power to take the smart contract platform to new all-time highs.

In a new strategy session, Cowen says DOT is “very, very likely” in a re-accumulating phase, forming a pattern similar to its price action at the end of 2020 just before it explodes by 3. $ 00 or so to almost $ 50 in a matter of weeks.

“My speculation, dubious as it is, is that this range here is just a simple re-accumulation that will inevitably take us to higher levels. I also guess the next move should get us past the $ 100 mark. I sincerely hope that this will also get us past the $ 200 mark and maybe even beyond. Let’s take it one step at a time.

With Polkadot’s current value of $ 36.70, a move beyond $ 100 represents a potential upside of around 200%.

Cowen adds that he doesn’t expect a market cycle high in the next few months. Instead, he believes the crypto markets still have a long way to go and Polkadot will play an important role in them.

“I think Polkadot is a great project, and I think he has a role to play in this cycle. Again, I don’t think this cycle is nearly over. I know a lot of people are clamoring for a peak cycle in a few months. I don’t think it is. I could be wrong and we’ll have to look at the market at that point, but I don’t think the peak of the market cycle is coming in a few months. I think we have a ways to go, and I would say Polkadot is one of the best coins in my portfolio…

Now remember, breakouts don’t have to happen immediately. We may still be in that range for weeks or months to come, but that’s not even the point. The point is, phases like this should generally be seen as opportunities and once the breakout occurs everyone looks back and wishes they were able to participate at a lower price. “

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