CoinVoice has recently learned that according to Jinshi reports, K33 Research's head of research, Vetle Lunde, has released a new report showing that based on Bitcoin's data analysis from the past three cycles, the average duration from the first breakthrough of the historical high to the cycle peak is 318 days. If history repeats itself, Bitcoin may reach this cycle peak around January 17, 2025, coinciding with the possible presidential inauguration of Trump.
The report estimates that based on historical cycle peak price calculations, Bitcoin is expected to reach $146,000 in this round, and if calculated by market capitalization, it may touch $212,500. Sevens Report Research technical analyst Tyler Richey stated that since Bitcoin broke through $100,000, trading volume has continued to decline, indicating a weakening bullish sentiment.
If Bitcoin breaks through the resistance range of $100,000 to $101,500, it is expected to retest the range of $106,000 to $108,000. If it fails to break the new high, $90,000 will become a key support level; if it sets a new high, the next target price will be $118,000. [Original link]
