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Analysis: This round of Bitcoin bull market may end in January next year, with the price reaching a maximum of $350,000

Analysis: This round of Bitcoin bull market may end in January next year, with the price reaching a maximum of $350,000

Bitget2024/05/12 08:28

ChainCatcher news, cryptocurrency trader and analyst Rekt Capital said that Bitcoin has perfectly repeated its historical trend in 2016. In the three weeks after the halving, Bitcoin has experienced a lower than current re-accumulation (e-accumulation). Downtrend at the bottom of the range. Rekt said the re-accumulation zone at this point in the cycle is below $61,081.

However, Timothy Peterson, founder and investment manager at Cane Island Alternative Advisors, noted that based on a chart of Bitcoin’s price decline from all-time highs (ATH), which measures Bitcoin’s decline from peak to lowest over a specific time frame, it is expected that by 2025 Prices could rise to nearly six times current prices at the start of the year.

Peterson said: “Based on adoption and previous price retracements, we can guess that the peak of this cycle will be between $175,000 and $350,000 in the next nine months. Based on history, we can say that this bull market will be in 2025 End of January.”

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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