Bitcoin ’s price rally may continue until mid-2025, potentially reaching a peak before an anticipated US recession. A recent report from a crypto research firm suggests that the leading cryptocurrency could maintain its upward trajectory for several more months, with a possible peak occurring within the next 200 days.
As of mid-November, Bitcoin is currently in day 555 of its market cycle, which usually averages around 756 days. This cycle is characterized by a positive trend in Bitcoin ’s market capitalization, initiating when growth turns positive and concluding when the price reaches a peak. The current cycle is believed to have begun in mid-2023, just prior to significant developments like the filing of a Bitcoin exchange-traded fund (ETF) by a major asset manager.
The report indicates that should Bitcoin adhere to historical patterns, it could see a price peak around the same time as a projected economic downturn in the US, with estimates from a financial institution suggesting a 45% chance of recession by mid-2025. Interestingly, the analysis highlights a notable gap between Bitcoin ’s price top and its realized volatility. Currently sitting at around 50%, this volatility metric indicates that Bitcoin has not yet reached its peak levels seen in previous bull markets.
Another indicator of potential price growth is the relative strength index (RSI), which presently stands at 60. This suggests that Bitcoin has substantial room for further price appreciation, as it remains below the highs typically observed during robust market conditions.
Since the recent shift in US political leadership towards pro-crypto policies, the overall cryptocurrency market has seen impressive growth, exceeding a total market capitalization of $3 trillion for the first time since late 2021. This surge in market cap, primarily driven by Bitcoin , has also positioned Bitcoin as the eighth-largest global asset, surpassing even silver .
Currently, Bitcoin is trading at approximately $89,900, reflecting a 2.6% increase over the past 24 hours, while its total market capitalization stands at $1.738 trillion, according to CoinMarketCap data. Observers will be keen to monitor Bitcoin ’s dominance in the market, especially as it faces resistance near key price levels.
