Market
Bitcoin Today 01/22/2025: BTC is ‘halfway’ to a new high.
Bitcoin fell almost 5% after breaking its all-time high, giving back part of the gains caused by the euphoria of Donald Trump's inauguration as president of the United States. Even so, its price remained above US$ 103 thousand this Tuesday (21) and the scenario remains optimistic in the long term.
On the other hand, the market remains optimistic that Bitcoin's bullish rally should begin soon. And one analyst has already expressed his opinion that the cryptocurrency is “halfway” to reaching its all-time high this cycle.
Bitcoin halving data
Bitcoin's new model is based on the cryptocurrency's halving cycle, which reduces the issuance of new BTC by half and causes a supply shock. According to analyst Ted Boydston, this cycle includes four stages that explain the process of Bitcoin's bull run.
The first phase is the accumulation phase, in which the market bottom appears, followed by the breakout and the initial bull market. This phase occurred shortly after the presidential election in the United States and marked the conclusion of the first half of the phase.
After this, the mid-cycle consolidation phase occurs, which likely occurred when Bitcoin was struggling to stay above US$ 100 thousand. Finally, the final phase is the last bull rally, in which BTC rises exponentially until it establishes a new all-time high.
This Bitcoin model analyzes the historical trends of the 2012, 2016 and 2020 halvings and compares them to the current market. Boydston highlights the similarities and provides insights into possible pricing trends and patterns. Based on this analysis, he predicts that Bitcoin could reach an all-time high of US$ 380 thousand this cycle.
