Analysis: This round of the Bitcoin bull market may end in January next year, with prices possibly reaching up to $350,000

2024-05-12 14:58:16

Collection

ChainCatcher news, cryptocurrency trader and analyst Rekt Capital stated that Bitcoin perfectly repeated its historical trend from 2016, showing a downward trend below the current e-accumulation range bottom within three weeks after the halving. Rekt mentioned that the re-accumulation range for this cycle is below the price of $61,081.

However, Timothy Peterson, founder and investment manager of Cane Island Alternative Advisors, pointed out that based on the chart of Bitcoin's price decline from its all-time high (ATH) (measuring the drop from peak to trough over a specific time frame), the price could rise to nearly six times the current price by early 2025.

Peterson stated, "Based on adoption and previous price retracement, we can speculate that the peak of this cycle will be between $175,000 and $350,000 within the next 9 months. Historically, we can say this bull market will end in January 2025."

(Source Link)

Related tags

Bitcoin bull market

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.