Analysis: Bitcoin's current bull run may end in January next year, with prices reaching as high as $350,000

Rekt Capital, a cryptocurrency trader and analyst, said Bitcoin perfectly repeated its historical trend in 2016, with a downtrend below the bottom of the current re-accumulation (e-accumulation) range within three weeks of the halving. Rekt said the re-accumulation range at this point in the cycle is a price below $61,081. However, Timothy Peterson, founder and investment manager of Cane Island Alternative Advisors, pointed out that based on the chart of Bitcoin's price decline from its all-time high (ATH) (a measure of Bitcoin's decline from peak to bottom in a specific time frame), it is expected that the price may rise to nearly six times the current price by early 2025. Peterson said: "Based on adoption and previous price retracements, we can guess that the peak of the cycle will be between $175,000 and $350,000 in the next nine months. Based on history, we can say that this bull run will end in January 2025." (Cointelegraph)