Since truly reigniting the bull run in early November, Bitcoin (BTC) has risen 56.52% to recent highs above $108,000 and, even after the price’s last drop at press time of 105 $644, the cryptocurrency remains 52.17% in the green within the timeframe.
BTC’s relatively continued strength and the fact that the market has been rising for approximately 12 months at the time of publication on December 18 has led many to wonder if the upsurge will persist or if the next “crypto winter” is approaching.
Notably, investors and analysts have been trying to gauge when Bitcoin will peak in this cycle by looking at historical charts, and based on a December 18 article, prominent on-chain expert Ali Martinez may have be identified where BTC will reach the top.
Here’s How High Bitcoin Will Reach This Cycle
After overlaying the gains from previous bull markets – those of 2017 and 2020, to be precise – Martinez concluded that Bitcoin will be free of notable pullbacks until it hits $110,000.
Such an estimate seems plausible because, earlier this week, BTC broke the recent trend of experiencing a decline on Monday after a rally on Sunday.
Additionally, investors appear to have become accustomed to the shocks induced by MicroStrategy (NASDAQ: MSTR), as the latest news of a massive buying has done little to push Bitcoin lower, unlike, for example, November 24 and 25.
Martinez nevertheless foresees two major correction zones in the relatively near future. Specifically, the cryptocurrency analyst predicted that a significant pullback would occur once $125,000 was reached and that reaching $150,000 would generate an even larger downturn before the rally could continue.
Finally, the on-chain expert concluded that whether the current cycle mimics the bull market of 2017 or 2020, Bitcoin will not surpass $220,000 until the next crypto winter.
Why $220,000 Might Not Be a Realistic Target for Bitcoin Price
Interestingly, such analysis of historical patterns runs counter to several leading experts and investors.
Indeed, the author of the best-selling personal finance book “Rich Dad Poor Dad,” Robert Kiyosaki, as well as legendary Wall Street analyst Tom Lee, both predicted that BTC would reach $250,000 before the end of 2025.
Simultaneously, cryptocurrency lobbyist Perianne Boring went even further, predicting that Bitcoin would climb to at least $800,000 next year.
Elsewhere, all three targets may prove too ambitious because, despite the undeniable bullish momentum, the world’s leading cryptocurrency has already risen by around 150% over the past 12 months and, despite even larger historic rebounds, gains of the cycle have decreased as the price of BTC increased.
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