Bitcoin could be on track to reach a new all-time high around mid-January 2025, according to cryptocurrency research firm K33. Despite recent fluctuations following its surge past the $100,000 mark earlier this month, historical data suggests a potential surge in Bitcoin’s price in the coming months.
Vetle Lunde, Research Manager at K33, points to a pattern observed in the past three Bitcoin cycles. Analyzing historical data, Lunde found that the average duration between the first and last all-time highs in a given cycle is 318 days. Given that Bitcoin first reached a new all-time high in the current cycle on March 5, 2024, applying this historical average projects a new peak around January 17, 2025.
In a recent report, Lunde draws a parallel to the 2016 US presidential election, stating, “Trump’s election was a catalyst for the strong fourth-quarter market rally, and given that the political process may take time to materialize, Trump’s inauguration will be the natural end of this momentum.” While the context is different, Lunde suggests that similar market dynamics could be at play, leading to a surge in Bitcoin’s price as the year progresses.
However, K33 acknowledges the inherent volatility of the cryptocurrency market and cautions that this projection is based on historical trends and should not be taken as financial advice.
