Amid Bitcoin Dip, Analyst Pinpoints Specific Timeline for BTC to Reach $150K
Analyst Apsk has weighed in on the timeline for Bitcoin to attain a $150K market top consistent with the previous cycle.The Bitcoin market has turned bearish again after an unsuccessful attempt to break the $100K price level. Just yesterday, Bitcoin was priced at $98,935, but it has dropped by 7.5% at press time to $91,500.With this bearish performance sparking concerns, analysts now reassure market participants that Bitcoin is still far from its cycle top. In a post today, Apsk, an engineer and Bitcoin analyst, revisited patterns from Bitcoins past cycles, suggesting that the current cycle is still in its early stages.Apsk pointed out that Bitcoins price history has been marked by cyclical peaks occurring roughly every four years, with the last three surging in November or December. The previous cycle highs were: 10 Nov 2021: $69,000 17 Dec 2017: $19,891 29 Nov 2013: $1,242Based on this historical pattern, Apsk expects the next cycle peak to occur in November-December 2025. Essentially, while some may be concerned about the recent price dip, Apsks analysis highlights that Bitcoin is not near its cycle top and that the long-term trajectory remains intact.Bitcoin Potential Peak for This CycleThe analyst also highlighted Bitcoins adherence to a power curve that has provided consistent support for its price over the past 15 years. This curve represents what Apsk believes to be the intrinsic value of the Bitcoin network.As each cycle progresses, Bitcoins price rises above this support line but by progressively smaller percentages. The trend suggests that while Bitcoin will likely continue to rise, the magnitude of its future price explosions may not match the dramatic increases of previous cycles.For instance, after Bitcoin peaked in 2013 at $1,242, it later dropped to $171 by January 2015, presenting the cycles bottom at the time. It was from this point that Bitcoin soared to the $20K peak of the 2017 cycle. This represented an astonishing 11,532% growth during the post-halving bull run of the 2016/2017 cycle.However, in the 2020/2021 post-halving run, Bitcoin did not mirror the 115X surge of the previous cycle. Instead, it rose by 2,062% from around $3K to $69K. Essentially, Apsks analysis suggests Bitcoins peak could reach $150K in this cycle, which would represent a 900% rise from the $15K bottom.
Text source: The Crypto Basic
