Bitcoin’s price performances over the last decade have been dominated by bear and bull cycles. Generally, Bitcoin (BTC) halving is considered as the catalyst for the beginning of the bull market. In the last two years before each such event, the bears showed strength. CryptoQuant CEO Ki Young Ju shared his predictions on when the current bull cycle will end. Additionally, analyst Jason Pizzino says Bitcoin is poised for an upward move.
When will the Bitcoin bull cycle end?
cryptokoin.comAs you follow from , the leading crypto Bitcoin impressed with its performance this year. It recorded a new ATH level, especially with the impact of the SEC’s spot Bitcoin ETF approval and halving catalysts. So is this process over? According to Ki Young Ju, CEO of on-chain market intelligence and analytics CryptoQuant, Bitcoin is still in the middle of its bullish cycle. The analyst points out that the market value is growing faster than its current realized value. Based on historical data, this trend tends to last for about two years. Hence, the analyst predicts that this cycle will end around April 2025.
However, banking giant JPMorgan predicts that the Bitcoin price will not experience a significant rally in the near future. The banking giant’s forecast is based on declining demand for spot Bitcoin ETFs in the US and the launch of similar crypto products in Hong Kong.
“The bull cycle is by no means over for BTC!”
Elsewhere, analyst and trader Jason Pizzino says Bitcoin is on track to reach ATH levels. In this direction, the analyst states that BTC is preparing for a major upward movement. Pizzino notes that the Bitcoin bull market is only taking a breather as it consolidates below immediate resistance around $69,000.
According to the analyst, it is only a matter of time before BTC breaks out of consolidation and gains nearly 100% from current levels. Pizzino uses the Fibonacci extension tool to set the large BTC price target. In this context, the analyst makes the following statement:
I don’t see the cycle ending in any way, so I’ll just look at upside targets. The first of these is $135,000. We’ll just use some easy round numbers here. Now double this special move [3.000 ila 68.000 dolar] If it were to do some quick math, that range is around $65,000. So you estimate $65,000 from the top, it works out to about $135,000.
Analyst’s targets for Bitcoin
The analyst also says there are other “interesting” price levels for Bitcoin to watch before it potentially doubles from the current point. In this regard, Pizzino draws attention to the following levels:
Frankly, $100,000 will be a number that everyone will look at, it’s a bit of a psychological level. There will probably be big parties like ‘Bitcoin for $100,000’. And then these next two – these others are between $115,000, $120,000, but I’m interested in $130,000-$150,000 here now. What was happening with Bitcoin at that time? Beyond that, what happens if we experience other types of rallies and corrections?… This will be the next major interesting point when it comes to predicting these price targets for the end of the cycle.
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