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Closely followed crypto analyst Benjamin Cowen is laying out a potential price target for Bitcoin (BTC) in late 2025 based on historical market cycle patterns.

In a new strategy session, Cowen takes a look at logarithmic regression bands, which aim to plot out potential tops and bottoms of market cycles based on diminishing volatility.

Cowen says that each market cycle top has been two and a half logarithmic regression bands below the previous one.

Currently, two and a half bands below the previous high of $69,000 is at the $45,000 level, but since the band goes up as time goes by, BTC could actually top out closer to $100,000 assuming that the cycle ends in late 2025.

Says Cowen,

“The issue right now is that two and half log lines down from where this peak was, puts you at this logarithmic regression trend line, which currently is only at around $45,000 to $46,000… 

Now, that might sound somewhat disheartening to hear, but you also have to remember that normally, we’ve seen these major peaks occur in Q4 of the post-halving year. So, while it is true that two and a half log lines down now is only about $45,000 to $46,000, two and a half log lines down in late 2025 would look a lot different, and we can actually project this out…

By late 2025, that would correspond to just north of $100,000…”

Source: Benjamin Cowen/YouTube

Based on his logarithmic regression rainbow, Cowen suggests that BTC could peak at around $111,000 about two years from now.

At time of writing, BTC is trading for $37,109.

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