Bitcoin bull run could reach peak by 2025
Bitcoin (CRYPTO:BTC) began the year with strong momentum, driven by the launch of spot ETFs in January, which attracted a new wave of investors.
This surge led the leading cryptocurrency to a new all-time high of $73,737 in mid-March.
However, Bitcoin’s price has slowed in recent months, leading investors to wonder if the bull cycle has ended.
According to a blockchain firm, there might still be room for growth, with a potential timeline for the next peak.
Crypto intelligence firm IntoTheBlock recently provided insights on the X platform about Bitcoin’s behavior during a halving year and its impact on the bull cycle.
The firm explained, "From a historical standpoint, the average time between the Bitcoin halving and the next peak is 480 days."
This timeline suggests that Bitcoin could reach its cycle top around the summer of 2025.
The fourth halving, which took place in April, reduced miners’ rewards from 12.5 BTC to 6.25 BTC.
Although this event is typically seen as bullish, Bitcoin's price has dropped 12% from its halving value of $63,900, according to IntoTheBlock.
Despite this, the current price remains above pre-halving projections, indicating that the bull cycle might not be over yet.
IntoTheBlock further noted that Bitcoin’s price has been consolidating between $55,000 and $69,000 over the last two quarters.
The firm mentioned, “A sustained break above the $70,000 mark could signal the resumption of the bull cycle.”
Similarly, CryptoQuant CEO Ki Young Ju offered his perspective on Bitcoin’s current market phase.
He stated, "BTC is only in the middle of its bull cycle and hasn’t hit the retail bubble yet."
The "retail bubble" refers to a phase marked by a significant influx of retail investors.
Young Ju pointed out that demand for Bitcoin in markets like the United States appears to be declining, as indicated by falling Coinbase spot trading volume back to pre-spot ETF levels.
He stressed the importance of a recovery in U.S. Bitcoin demand, adding, "I expect this in Q4, but I could be wrong."
These analyses suggest that while Bitcoin's recent performance has been lackluster, there remains potential for further growth.
If historical trends hold and market conditions align, Bitcoin could see its bull run continue, with a peak potentially arriving by 2025.
At press time, the Bitcoin (BTC) price was $55,000.67.
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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