#BitcoinHashRateSurge

The incoming administration has been a catalyst for Bitcoin’s late-year rally, with promises to make Washington more crypto-friendly. Combined with other factors — such as the idea of ​​a national Bitcoin reserve — this has helped the token’s price cross the six-figure mark for the first time.

K33 has forecast Bitcoin’s price using two different methods. Based on past cycle peaks, the token’s price could reach $146,000. But if we assume Bitcoin’s market cap growth, the price could reach $212,500.

Meanwhile, a separate study by CCData also points to a peak next year, albeit on a different timeframe. According to the company, Bitcoin typically peaks 371 to 546 days after its last halving event, which last occurred in April. This mechanism occurs every four years and reduces the supply of new tokens by half.