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When Will Bitcoin Price Peak? Analytics Company Gives Date

source-logo  en.bitcoinsistemi.com 13 November 2024 08:48, UTC

Copperco analysts predicted that Bitcoin’s price could reach its next peak in about 200 days, and this timeline is in line with U.S. recession predictions.

According to a report published today, Copperco's research suggests that based on Bitcoin's historical bull and bear cycles, BTC could see a price peak by the end of May 2025.

The analysis, conducted by Copperco Head of Research Fadi Aboualfa, revealed that Bitcoin’s cycles from the beginning of positive market cap growth to its price peak typically last around 756 days. “This timeline suggests that Bitcoin could peak in mid-2025, in about 200 days,” Aboualfa said, adding that Bitcoin is currently on day 554 of its ongoing cycle that began in mid-2023.

Copperco’s report also highlighted a possible link between Bitcoin’s projected peak and a potential economic downturn in the U.S. JPMorgan recently estimated that there was a 45% chance of a recession in the second half of 2025, coinciding with Bitcoin’s expected price peak. While Bitcoin has been resilient in previous recessions, analysts noted that an economic slowdown could impact market sentiment and investor behavior, potentially adding volatility to the cryptocurrency market.

Despite these economic concerns, Copperco analysts point to technical indicators that point to Bitcoin’s potential for continued growth. The Relative Strength Index (RSI), a widely used metric to measure momentum, is currently at 60, well below levels seen during previous bull market peaks. “This suggests significant room for Bitcoin to continue gaining momentum in the new year,” the report said.

*This is not investment advice.

en.bitcoinsistemi.com