The year following Bitcoin’s halving has been a banner one for the king coin. Six months ago, BTC hit an all-time high of $73,750.07, even before the halving. The asset is trading 13% below that high at $63,676.27. Despite the stagnation, Bitcoin has seen a recovery, with the asset gaining nearly 9% over the past week.
However, Bitcoin is expected to surge in the coming months. Some organizations have predicted that BTC could surge to as high as $100,000 before 2025. The real question is how the asset can surge 58% as we approach the end of the year.
3 Reasons Why Bitcoin Could Surge to $100,000
Historical Performance
Looking back at Bitcoin’s historical performance, the asset is set for a great final quarter. Data shows that BTC has finished seven out of eleven quarters well. Last year, the king coin gained more than 56% in the previous quarter. In addition, Q4 was considered the most bullish quarter. Bitcoin’s average quarterly return is 88%.
Impact of the US Election
But that’s not all. The crypto industry could see a major shift after the next US election. In a recent interview with Bloomberg, SkyBridge Capital’s Anthony Scaramucci identified two key factors that will contribute to Bitcoin’s rise to $100,000. These include lower interest rates and more industry-specific regulations after the US election in November. He added:
“We will have pro-crypto, Bitcoin and stablecoin legislation in the early stages of the next congressional term in the United States. At the same time, you will intersect with interest rate cuts from the Federal Reserve.”
Bitcoin Cycle
Furthermore, the typical Bitcoin cycle begins around 170 days after the halving. With over 155 days until the April 19, 2024 halving, it looks like there are only two weeks left before the bull run resumes. By the same data point, if this bull run begins in the next two weeks, it would peak around 480 days after the halving, meaning August 12, 2025 is when Bitcoin could reach its maximum.
