Cryptocurrency analyst Kevin Svenson predicts that Bitcoin (BTC) could reach its cycle top in January 2025. This prediction is based on Bitcoin’s historical behavior after halving events.
Halving History
After each halving, Bitcoin has typically experienced a period of growth for 40 to 80 weeks. The most recent halving occurred in April 2020, which means the 40th week would fall in January 2025.
Election Cycle Correlation
Svenson also notes that January 2025 coincides with the US presidential inauguration month. This could potentially provide additional support for a cycle top around that time.
Market Dynamics
Svenson acknowledges that the market could deviate from his expectations. Bitcoin could continue to rise beyond January 2025 if it experiences a prolonged period of sideways movement.
Current Market Situation
At the time of writing, Bitcoin is trading at $60,110. Svenson believes there could be a surge in price leading up to January 2025.
