Bitcoin market performance and historical patterns continue to interest analysts and investors, with many of them using this to gauge what and how the asset is likely to move in the future.
According to , a well-known crypto analyst, Bitcoin may follow a familiar pattern observed in previous cycles, where the cryptocurrency reaches its peak several months after the halving event.Peak Will Be 2025, But What Price Target?
In a recent post on X, Mags highlighted the notable gains Bitcoin experienced in the aftermath of previous halvings, suggesting that if history repeats itself, Bitcoin could top out between June and October 2025, approximately 400-550 days from now.
Currently, Bitcoin is in a consolidation phase following its recent halving, and Mags speculates that even if the growth in this cycle is just half of what was seen in previous cycles, it could still result in a 300% increase from current levels, pushing Bitcoin’s price to around $200,000.
– When Will Bitcoin Top Out? Bitcoin has shown a pattern in previous cycles where it tops out several months after the halving event. In 2013, Bitcoin pumped by over 9,500% and peaked 406 days after the halving. In 2017, it climbed by 4,100%, reaching its peak 511… — Mags (@thescalpingpro)
Bitcoin Current Market Performance
Despite the optimistic long-term outlook, Bitcoin’s short-term performance has shown weakness. Over the past 24 hours, Bitcoin’s price has declined by 2.1%, bringing it down to a current trading price of $61,911 at the time of writing.
This decline is reflected in Bitcoin’s market capitalization, which has seen approximately $27 billion flow out over the same period. Interestingly, despite the price drop, Bitcoin’s daily trading volume has increased significantly, rising from $24 billion yesterday to over $28 billion today.In addition to these market movements, there has been notable activity in Bitcoin’s exchange netflows. A recent from a CryptoQuant analyst highlighted several instances of large negative netflows, where significant amounts of Bitcoin were withdrawn from exchanges.