Bitcoin Could Cross $1M by Year-End if It Continues to Follow 2017 Cycle: Van Straten

Key Points

  • Bitcoin has surged over 550% from its low during the FTX collapse in November 2022, now trading above $100,000.
  • The current cycle mirrors previous cycles, with significant price appreciation expected post-halving.
  • If bitcoin follows the 2015-2018 cycle, it could reach $186,000 by Q1 2025 and potentially peak at $1.7 million by October of the same year.
  • Under Donald Trump's first term, bitcoin saw a 20x increase; a similar trend could see it reach $1 million.

Summary

The article discusses the remarkable recovery of bitcoin following the FTX collapse in November 2022, when its price plummeted to around $15,500. Now, with bitcoin trading over $100,000, the crypto market has shown resilience and growth, especially under a new U.S. administration led by President Donald Trump, who has yet to reveal his crypto policies. The analysis focuses on bitcoin's four-year cycle, influenced by its halving events, which historically lead to significant price increases post-halving. Currently, bitcoin's performance mirrors the cycles of 2015-2018 and 2018-2022, with a 550% rise from its cycle low. If this trend continues, projections suggest bitcoin could reach $186,000 by the end of Q1 2025, with a potential peak at $1.7 million by October of the same year. Additionally, historical data during Trump's first term showed a 20x increase in bitcoin's value, suggesting a possible similar growth trajectory in his current term.

coindesk
January 21, 2025
Crypto
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