While the leading cryptocurrency Bitcoin continued to break new records by reaching over $ 108,000 in December, its upward momentum has diminished in recent weeks. At this point, BTC fell to $ 90,000 and then went on the offensive again yesterday.
As Bitcoin reaches $98,000, a top analyst says BTC could reach a new record high in January of next year.
Accordingly, Vetle Lunde, head of research at crypto research firm K33 Research, argued that Bitcoin could reach its new ATH and cyclical peak around mid-January next year, citing historical data.
Lunde stated that he made this prediction based on BTC’s previous cycles and said that he expects the price to reach a new peak on January 17, 2025 in this cycle.
Lunde said that data from the last three cycles show that the average time between Bitcoin’s first and last all-time high in each cycle was 318 days.
At this point, the analyst noted that since Bitcoin reached its first record high on March 5 during this current cycle, if history repeats itself, investors could see BTC reach a new, cyclical high on January 17, 2025, during this cycle.
Lunde stated that Bitcoin could reach $146,000 this cycle based on previous cycle peak prices, while adding that it could potentially go up to $212,500 this cycle based on previous market capitalization.
If Bitcoin reaches a new high in mid-January, it will coincide with Donald Trump’s inauguration as US president on January 20.
*This is not investment advice.
