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Cryptocurrency analyst Kevin Svenson is saying that Bitcoin (BTC) could reach its cycle top within the coming months.
Svenson tells his 78,600 YouTube subscribers that based on Bitcoin’s post-halving behavior over the previous cycles, BTC could hit its cycle top in roughly six months.
“So it’s [2012] halving, 40 to 80 weeks profit zone. [2016] Halving, 40 to 80 weeks. [2020] halving, 40 to 80 weeks. Current halving [which occurred in mid-April], the 40th week lands on January of 2025. And that is also going to be the [US President] inauguration month. So, I mean that it does have historic context in two different ways. So we may be looking at a January top for Bitcoin…
I’m just basing this off of the usual time that we find a peak, around the 80th week after the halving. And also looking at it from the election cycle perspective, it lines up with January of 2025.”
According to Svenson, Bitcoin could, however, outperform his expectations.
“The markets can go up heavily from now into that point in time. We may see a New Year surge and maybe it continues longer than January…
January of 2025 is currently the zone of interest. But it depends… if Bitcoin goes sideways for a lot longer than expected, then maybe we go up further past January 2025.”
Bitcoin is trading at $60,110 at time of writing.
Generated Image: DALLE3
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