Bitcoin reached its highest price (All Time High/ATH) this week at US$70,000, surpassing the previous record set in November 2021.
After waiting for 847 days, this largest crypto has finally reached the peak of the previous cycle and has the potential to enter the price discovery phase again. Now is an opportune historical moment to compare data from previous Bitcoin cycles. By analyzing technical data from previous cycles, we can make predictions about Bitcoin price peaks in the current cycle and when those peaks will occur. The upcoming Bitcoin halving will likely still be a determining factor in the crypto market cycle that occurs every 4 years.
With this assumption, Jakub Dziadkowiec in his research via Bein Crypto estimates that the next bull market could push BTC prices to around US$150,000, which is expected to occur between April and August 2025. This prediction refers to the Bitcoin trend which started with an upward trend from the price of US$0.01 and reached its peak at US$31.90 in June 2011. Then, the Bitcoin price fell to its lowest point in the first cycle, namely US$2.01 in November 2011. The start of the bull market occurred after the first halving in November 2012. Bitcoin prices soared to reach an all-time high (ATH) of US$1,177 in November 2013.
Thus, the price increase at that time reached 586 times. Furthermore, a bear market occurred in 2014, which resulted in BTC prices falling to a macro low of US$164 in January 2015. Next, there was a second halving on Bitcoin in July 2016. This cut reached its peak with the price reaching US$19,764. In this second cycle, the price of BTC increased 121 times. The subsequent bear market that occurred in 2018 brought Bitcoin down to its lowest point of US$3,148 in December 2018. Meanwhile, the subsequent price increase was halted due to the market crash triggered by the COVID-19 pandemic in March 2020.
Disclaimer: Investing in crypto is an activity that has the potential to generate large profits, but also carries significant risks. Before you decide to invest in cryptocurrency, it is important to understand that the crypto market is highly volatile and can experience drastic price changes in a short period of time. Big profits can be made, but so can big losses. We do not provide investment or financial advice, and the information provided is for educational and informational purposes only. All investment decisions are your sole responsibility. Before making any investment decisions, it is recommended to consult a financial advisor or other financial professional to obtain advice appropriate to your financial situation and investment objectives. However, after the third cut in May 2020, BTC prices started to rise sharply. This increase ended with the formation of a double top and a new record ATH of US$69,000 reached in November 2021. The initial and clearest data that can be obtained from historical cycles is information about the lows and peaks of BTC prices. The peak of this cycle can be estimated by comparing the proportional decrease between the price range of one cycle and the next cycle.
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