The post Bitcoin’s Next Peak Expected in Summer 2025, Says IntoTheBlock appeared on BitcoinEthereumNews.com.

Bitcoin’s Next Peak Expected in Summer 2025 according to on-chain data platform IntoTheBlock, aligning with historical trends from previous halving cycles. In a recent post on X, IntoTheBlock noted that Bitcoin’s price has decreased by approximately 12% from its halving price of $63,900. Historically, Bitcoin has peaked about 480 days after each halving event, which supports the prediction of a new all-time high around mid-2025. Currently, Bitcoin is trading at $55,008.11, reflecting a 1.28% increase over the past 24 hours, according to CoinMarketCap. This modest growth comes as the market continues to navigate the post-halving phase, with many analysts and traders anticipating the next major price surge. The analysis from IntoTheBlock highlights the cyclical nature of Bitcoin’s price movements, which are closely tied to its halving events. Bitcoin halvings occur roughly every four years and reduce the block reward for miners by 50%, decreasing the rate of new Bitcoin entering circulation. This scarcity-driven mechanism has historically been followed by significant price increases, culminating in peaks approximately 480 days after each halving. Bitcoin’s Historical Price Peaks After Halving Events Bitcoin’s price behavior after halving events has been consistent in previous cycles. For example, after the 2016 halving, Bitcoin’s price peaked at an all-time high in December 2017, about 18 months later. Similarly, the 2020 halving was followed by a peak in November 2021, approximately 18 months post-halving. IntoTheBlock’s analysis suggests that the same pattern is unfolding in the current halving cycle, with the next peak expected around summer 2025, roughly 480 days after the most recent halving in April 2024. Current Market Overview: Bitcoin Trading at $55,008 As of September 2024, Bitcoin is trading at $55,008.11, which marks a slight recovery from recent lows. The price has increased by 1.28% over the past 24 hours, signaling renewed interest among traders and…

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Filed under: News - @ September 9, 2024 5:56 am