On January 21, CoinDesk analyst James Van Straten said that if Bitcoin continues to follow the 2017 cycle, it may break through $1 million by the end of the year. At present, the price of Bitcoin has risen by about 550% from the low point of the cycle, which is in line with previous cycles.
Much attention has been paid to the analysis of the four-year cycle in the discussion of bitcoin, which revolves around the halving mechanism of bitcoin, with supply decreasing every four years. Typically, the price of bitcoin rises sharply in the year following each halving, and the current cycle continues to show a similar trend to the previous two cycles.
As of now, the price of Bitcoin is up about 550% from the cycle low ($15,500) at the time of the FTX crash. The data shows that in the current cycle, Bitcoin's performance is similar to that of the 2015-2018 cycle: after the cycle low on January 14, 2015, Bitcoin (blue line) was also up about 550% at that time.
If Bitcoin continues to follow the trend of the 2015-2018 cycle, by the end of Quarter 1, 2025, its price could rise about 1,100% from the cycle low to $186,000. The peak of the current cycle could come in October of this year, with an increase of 11,000%, pushing the price up to about $1.70 million.
Analysis: If Bitcoin follows the cycle, the price could break through $1 million by the end of the year
2025-01-21 12:24:18
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