CoinDesk Report:
Cryptocurrency analyst Kevin Svenson suggests that Bitcoin (BTC) could reach a peak in its cycle over the next few months.
Speaking to his 78,600 YouTube subscribers, Svenson pointed out that based on Bitcoin’s behavior post its previous halving cycles, BTC could reach its cycle peak in approximately six months.
“So, this is the [2012] halving, 40 to 80 weeks of profit zone. [2016] halving 40 to 80 weeks. [2020] halving 40% to 80 weeks. The current halving (which occurred in mid-April), the 40th week would arrive in January 2025. That also happens to be the month of the inauguration. So, what I mean is, it really has two different historical contexts. So, we might see Bitcoin’s peak in January…”
“I’m just basing it off our typical times we find peaks, around the 80th week post-halving. Election cycle-wise, it lines up with January 2025 as well.”
Svenson believes Bitcoin could exceed his expectations.
“From now until then, the market could surge significantly. We might see a New Year spike and it could last longer than just January…”
“January 2025 is the area currently in focus. But that depends on… if Bitcoin spends much longer sideways than expected, then we might see further rise post-January 2025.”
At the time of writing, Bitcoin trades at $60,110.
Don’t miss a beat — subscribe to get email alerts directly to your inbox
Check price action
Follow us on X, Facebook, and Telegram
Surf The Daily Hodl Mix
Generated image: DALLE3
