Amid the leading cryptocurrencies surge to new heights this month, one report suggests that the ongoing Bitcoin bull run will last another 200 days before a possible US recession takes place. Indeed, Copper.co research analysts have reported that the asset will likely reach its peak at that point, with economic questions arising from then on.
The token began its unprecedented surge when the 2024 presidential election results were given. Donald Trump’s return to the White House was always bound to be good news for the crypto sector. Yet, it has proven to be a game changer for Bitcoin, as the asset has hit an all-time high of $89,000 this week.
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Bitcoin to Reach Price Peak in 200 Days as 2025 Questions Loom Large
2024 has been a massive year for Bitcoin. Not only did it become the first crypto-based ETF, but it has skyrocketed in value over the course of the last ten months. That went into overdrive in November as the country elected its first pro-crypto president in history. The token has increased more than 40% over the last 30 days to trade at its current $87,000 level, according to CoinMarketCap.
Yet, the asset is expected to continue gaining for the foreseeable future. Indeed, one research firm projects that the ongoing Bitcoin bull run will continue another 200 days before the question of a possible US recession emerges in 2025. Specifically, Copper.co has noted that it will continue to increase until the midpoint of next year. The report came as the asset reached the 554th day of its ongoing cycle.
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A Bitcoin cycle typically runs for more than 750 days between a price increase and its peak. The research report notes that the present cycle began in the middle of 2023. Aligning with BlackRock’s Spot Bitcoin ETF filing, it expects a continued upward trajectory until the midpoint of next year.
The analyst shave used JPMorgan’s 45% estimation that a US recession will take place in the middle of 2025. That would greatly affect the price performance of the leading cryptocurrency. The asset currency has a Relative Strength Index (RSI) of 60, which is noticeably lower than previous bull markets. That has many worried about the potential for the run to continue.
