Follow. Follow follow
and the Final Growth Phase: Could the New Peak
Bitcoin has shown significant strength recently, soaring to $123,000 before dropping to $117,000. So far, it seems that this digital asset has encountered barriers and may now be heading toward its peak. However, analyst Merlijn The Trader has explained that Bitcoin is not done with many price increases to come. He reveals that the price of Bitcoin has not yet entered the 'final phase', which must occur before there are speculations about a peak.
The 4-Year Cycle of Bitcoin is Still Ongoing
After the price of Bitcoin surged to a new all-time high before the halving, something that has never happened before, there have been speculations that the 4-year cycle has been broken. To clarify, this 4-year cycle is tied to the Bitcoin halving event, which occurs every four years, cutting the block reward for miners in half.
However, the reduction of block rewards is not the only interesting aspect of the 4-year cycle, as each halving also opens up a new bull market. This has happened in the last three bull cycles, and Bitcoin is predicted to follow suit. Historically, the bull market lasts about a year after halving, with the peak reached a year later. Following this trend, the price of Bitcoin and the cryptocurrency market in general is expected to continue rising before reaching a peak by the end of this year.
Pointing out this 4-year cycle, the analyst forecasts another price increase. The chart shows that prices usually drop for a year and then rise for three years, and so far, the price of Bitcoin has only increased for two years, so 2025 will be another bullish year.
Moreover, Bitcoin is still far from the levels that marked the peaks of previous bull markets. Therefore, it will still take some time to reach the peak in 2025. Additionally, each bull cycle has seen Bitcoin triple compared to the previous all-time high, and this year it could even reach double the previous peak of $69,000.
How High Can BTC Rise?
If the 4-year cycle is still in effect, it means that the Bitcoin price increase has not yet ended. In the analyst's chart, he shows the potential peak of Bitcoin based on previous cycles, and BTC is still in the middle of the framework. The peak of this framework places the price of BTC at around $200,000 before it can reach its peak.
The analyst warns that Bitcoin is about to enter a phase that he calls 'the greenest phase', referring to another price increase to an all-time high. If this forecast is correct, Bitcoin is expected to see another 50% price increase before the bull market ends.
