In a recent report by BlockBeats news, citing K33 research director Vetle Lunde’s analysis, it seems that Bitcoin’s third cycle from its first all-time high to the latest one takes an average of 318 days. If we consider the fact that Bitcoin hit its first all-time high in this cycle on March 5th, we can estimate that the cryptocurrency might reach its peak again by January 17th, 2025 – just about a week before former U.S.
President Donald Trump’s inauguration on January 20th. This prediction comes off the back of Trump’s presidency being seen as a significant factor in Bitcoin’s strong performance during the fourth quarter of 2020. Moreover, according to Lunde’s analysis, if we look at previous cycle peaks and their corresponding price levels, Bitcoin might hit a whopping $146,000 this time around!
However, if we use previous market capitalizations as our reference point, then Bitcoin’s potential peak value could go up to a staggering $212,500! These predictions are certainly interesting food for thought, especially for those who are invested or considering getting into the world of cryptocurrencies.
Reported by m.theblockbeats.info
