Bitcoin Could Peak Between $160,000 And $290,000 – Report
As the end of the year approaches, Bitcoin (BTC) continues to surge to new highs, setting bullish expectations for the remainder of the cycle. A new report from Bitfinex indicates when BTC’s top will arrive, and how much room the flagship cryptocurrency may have left to climb.
Related reading
Bitcoin’s “unique” cycle
Bitfinex in its latest Alpha report Highlight The cryptocurrency industry has made huge strides in adoption and mainstream recognition this year, making this cycle different from previous ones.
Notably, the launch of Bitcoin and Ethereum spot exchange-traded funds (ETFs) and growing institutional demand have exceeded expectations and attracted a “new class of investors” to the cryptocurrency space.
According to the report, this cycle is “unique” as new investors brought in by ETFs and increased confidence in the industry pushed the price of BTC to a new ATH ahead of the halving event, historically leading the flagship cryptocurrency in New highs 5-7 years later. months.
The industry has also seen growth interest In terms of leveraging cryptocurrencies to diversify national reserves, several jurisdictions around the world are considering implementing Bitcoin strategic reserves following the flagship cryptocurrency’s recent performance.
Bitfinex analysts say these factors have allowed BTC to correct less than in other cycles, and this trend is likely to continue for the remainder of the bull market:
During the current bull cycle that began in mid-to-late 2023, Bitcoin has seen smaller corrections, especially since the launch of the Bitcoin ETF in early 2024. As institutional and ETF demand provide continued buying pressure, we expect this trend to continue, making future corrections limited and likely shorter-lived.
Furthermore, the incoming crypto-friendly U.S. administration added to the growing bullish sentiment in the industry, leading to a massive post-election rally. As a result, the cryptocurrency market is up 130% year-to-date (YTD), reaching a market capitalization of $3.69 trillion, with growth of nearly 70% in the quarter.
What’s next for Bitcoin in this cycle?
The report noted Bitcoin’s performance, highlighting its 573% surge from its 2022 low of $15,487. The flagship cryptocurrency is also up 130% year to date (YTD), driven by the industry this year Achievement.
Earlier this month, Bitcoin surpassed the $100,000 mark for the first time, setting a new ATH near the $110,000 level on Monday. According to Bitfinex, the cryptocurrency still has several levels to climb in 2025 as historical data suggests the market is mid-cycle.
The data suggests that the price of BTC may peak around the third and fourth quarter of 2025, as it tends to peak approximately 450 days after the halving. Meanwhile, indicators such as Market Value to Realized Value (MVRV), Net Unrealized Gains and Loss (NUPL) and the Bull/Bear Indicator suggest that “we are still in the bull phase, but we are still far from the euphoric peak.”
Bitfinex also explained that the Pi Cycle Top indicator has historically been very effective at timing cycle highs, predicting peaks with a three-day window. Predictions from the previous cycle suggested that Bitcoin could peak between mid-2025 and early 2026.
Related reading
The price of BTC could rise if it follows the 2021 cycle pattern experience Growth of 40% to $339,000 and peaking around June or July 2025. Nonetheless, the report states that the flagship cryptocurrency has been experiencing diminishing returns across cycles.
Based on this, the price of Bitcoin could rise by 15% to 20% to reach the range of $160,000 to $200,000. However, if the cryptocurrency mirrors 2017’s cyclical pattern, BTC’s rally could continue until January 2026, peaking at $229,000, with similar diminishing returns.
As of this writing, BTC is trading at $107,729, just 0.3% below its peak.
Featured image from Unsplash.com, chart from TradingView.com
