CoinDesk analysts predict that Bitcoin may be about to usher in a new round of price breakthroughs, with prices expected to rise to $108,000 to $155,000 based on past market cycles. Since reaching a high of $73,000 in March, Bitcoin has experienced a lengthy correction, with many investors believing the market has peaked.

However, recent Bitcoin price action has been similar to its performance during two bull markets in 2016 and 2020. Both of those bull markets ended the year with significant gains. This suggests that Bitcoin may be on track to see a similar move again before the end of the year. Despite weakness since March, Bitcoin is still up 290% since the market low in November 2022, consistent with previous bull cycles. If Bitcoin follows past trends, its price could see a 600% to 900% increase before the end of the year, reaching a range of $108,000 to $155,000.