Bitcoin's rise to a new all-time high above $70,000 was unconventional for several reasons. Interestingly, according to most experts, the leading crypto asset is still in its early stages and still has a long way to go.
In fact, analysts are now assessing Bitcoin's performance and expect it to peak in early 2025
Bitcoin's bull market peak
Based on historical patterns and recent market behavior, Rekt Capital noted that Bitcoin has traditionally peaked within a range of 518 to 546 days after its halving.
However, the current cycle has shown signs of acceleration, suggesting a possible deviation from the typical cycle length of around 260 days. By measuring bull market peaks from when Bitcoin breaks its old all-time high, the analysis predicted a potential peak within a time frame of 266 to 315 days afterward.
Notably, Bitcoin recently hit new all-time highs, signaling a pivotal point in this cycle. If the accelerating perspective holds, the next bull market peak could occur between December 2024 and February 2025, Rekt Capital said in its latest analysis.
“Bitcoin hit new all-time highs in this cycle last week. If the accelerating perspective proves true, the next bull market peak could occur in 266-315 days. This is December 2024 or February 2025.”
$150,000 goal?
Bernstein analysts are increasingly confident that Bitcoin has the potential to reach $150,000 by mid-2025, especially after the asset hit a new all-time high this year.
They also predicted that Bitcoin would see a significant uptrend after the next halving, reiterating their bullish outlook despite declines in some miners' stock prices.
The broker highlighted the growing inflow of funds into exchange-traded funds (ETFs), reiterated its $150,000 price target for Bitcoin and recommended investors consider buying shares of Bitcoin mining companies to benefit from the expected rally .
In a note, Gautam Chhugani and Mahika Sapra wrote:
“The integration of Bitcoin into the traditional asset portfolio is still in its early stages. We are now more confident in our Bitcoin price of $150,000.”
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