Bitcoin’s rally breaking into a new all-time high above $70,000 has been unconventional for several reasons. Interestingly, the leading crypto asset is still in its early stages and has a long way to go, according to most experts.
In fact, analysts are now weighing in on Bitcoin’s trajectory and expect it to climax in early 2025
Bitcoin’s Bull Market Peak
Drawing from historical patterns and recent market behavior, Rekt Capital found that traditionally, Bitcoin has reached its peak within a range of 518-546 days after its halving event.
However, the current cycle exhibited signs of acceleration, suggesting a possible deviation of the typical cycle length by approximately 260 days. By measuring bull market peaks from the moment Bitcoin breaches its old all-time high, the analysis predicted a potential peak within a timeframe of 266-315 days thereafter.
Notably, Bitcoin recently broke through to new all-time highs, signaling a crucial point in this cycle. If the accelerated perspective holds, the next bull market peak could materialize between December 2024 and February 2025, Rekt Capital said in his latest analysis.
“Bitcoin broke to new All Time Highs in this cycle last week. If the Accelerated Perspective turns out to be true, then the next Bull Market peak may thus occur in 266-315 days. That’s December 2024 or February 2025.”
$150K Target?
Bernstein analysts are increasingly confident regarding Bitcoin’s potential to reach $150,000 by mid-2025, especially following the asset’s surge to a new all-time high this year.
They further predicted that Bitcoin would experience a significant uptrend following the next halving, reaffirming their optimistic outlook despite declines in some miners’ stock prices.
Emphasizing the growing inflow of funds into exchange-traded funds (ETFs), the brokerage reiterated its $150,000 price target for Bitcoin and advised investors to consider purchasing shares in Bitcoin mining companies to capitalize on the anticipated rally.
In a note, Gautam Chhugani and Mahika Sapra wrote,
“These are still early days of Bitcoin’s integration into traditional asset portfolio. We are now more convinced about our $150K price for Bitcoin.”
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