This past weekend marked the fourth Bitcoin (BTC) halving since the network’s inception. In the past, the famous event opened the doors to a huge bull market, and this time too, most crypto investors expect nothing less. For the first time in history, the decentralized asset has already reached a new price record before the halving, indicating an accelerating cycle. When can BTC price possibly reach its absolute peak?
Could BTC peak later this year?
In the second week of March, Bitcoin surpassed its all-time high of around $69,000, reached in November 2021. A high of $73,800 was reached on March 14, after which the price had to lose momentum.
As mentioned earlier, this was the first time ever that the old pre-halving price record was broken. In the past, the explosive price rise that brought new records only occurred a few months after the halving. It has reignited the debate about whether the current cycle may be different than what has been presented to the crypto world in the past.
Historically, Bitcoin has always reached its bull market peak around 518-546 days after the Bitcoin halving wrote Crypto analyst Rekt Capital on the social media platform
Since Bitcoin is already ahead of schedule, the peak could come earlier this time. According to Rekt Capital, it took 266 to 315 days from the time of breaking the all-time high to the absolute peak in previous cycles. From this perspective, the summit could take place between December this year and February next year.
The established crypto analyst CryptoCon also takes the latter scenario into account. Yesterday wrote he the following on X:
“What we typically see after a halving is a short period of stagnation, followed by much of the recovery until the peak of the cycle. However, with price now near ATHs, the cycle may have shortened and end up forming a cycle peak this year instead of 2025.”
Exciting time for Bitcoin investors
In any case, no one can say with certainty what exactly the price entails. With the Bitcoin halving now behind us, BTC inflation has at least declined somewhat. Whether this will lead to another long-term price explosion like in the past is by no means a guarantee.
With the supply of new Bitcoins slowing and spot exchange-traded funds (ETFs) recently launched in January, the outlook for the world’s largest cryptocurrency appears bright. In any case, these promise exciting times for crypto enthusiasts.
