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As Bitcoin (BTC) Approaches 100 Thousand Dollars Again, Analyst Gives Date for New Peak!
The leading cryptocurrency Bitcoin continued to break new records by rising above $108,000 in December, while the upward momentum has slowed in recent weeks. At this point, BTC retreated to levels around $90,000, but resumed its rally yesterday.
As Bitcoin reaches the levels of 98 thousand dollars, a top analyst said that BTC could reach a new record level in January of next year.
According to K33 Research's research head Vetle Lunde, based on historical data, he argued that Bitcoin could reach a new ATH and cyclical peak around mid-January next year.
Lunde, stating that he made this estimate based on BTC's previous cycles, said that he expects the price to reach a new peak on January 17, 2025 in this cycle.
Lunde said that data from the last three cycles showed that the average duration between Bitcoin's first and last all-time high in each cycle was 318 days.
At this point, the analyst noted that since Bitcoin reached its first record peak on March 5 during this current cycle, if history repeats itself, investors may see BTC reach a new and cyclical peak on January 17, 2025 in this cycle.
Lunde, while noting that Bitcoin could reach $146,000 in this cycle compared to previous cycle peak prices, also added that it could potentially reach up to $212,500 based on the previous market capitalization in this cycle.
If Bitcoin reaches a new peak in mid-January, it will coincide with the inauguration of Donald Trump as President of the United States, which will take place on January 20th.