As of 5:29 p.m. on the 25th (New York time), Bitcoin was up 1.57% to $99,247 (approximately 15.61 million yen).
Bitcoin traded between $97,000 and $99,300 in New York trading. Bitcoin surpassed $100,000 earlier this month and is expected to reach $110,000.
However, it has since fallen and is now back above $100,000. Cryptocurrency research firm K33 has predicted that Bitcoin may reach a new all-time high in mid-January next year.
According to K33 data cited by MarketWatch, Bitcoin hit an all-time high each cycle based on data from the past three cycles.
The average time it took to reach a new high was 318 days. Analysts at K33 say that if Bitcoin hits an all-time high on March 5 this cycle and the average time of the previous cycle is repeated, then the investment
Investors expect the cryptocurrency to hit a new and final peak in this cycle on January 17, 2025. Cryptocurrency analysts divide Bitcoin’s price movements into four-year cycles, with each cycle
The cycle is divided into four stages: breakout, hype, correction, and accumulation.
The halving schedule is based on Bitcoin's halving schedule, a mechanism that adjusts the supply of the cryptocurrency by halving the reward for mining Bitcoin. Halving occurs approximately every four years and occurs immediately after the halving.
The most recent halving took place in April this year. MarketWatch predicts that if Bitcoin reaches its cycle peak in mid-January, it will be in line with the inauguration of Donald Trump as US president on January 20th.
"We believe that Trump's election was the catalyst for the strong fourth-quarter rally and that the political process needs time to crystallize," K33 analysts said.
"Using an estimate based on the previous cycle's highs, Bitcoin will peak at $146,000 this cycle," he said.
Based on the previous market cap, Bitcoin could peak at $212,500 this cycle, he added.
2024/12/26 10:40 KST
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