K33: If history repeats itself, Bitcoin may hit a new high around mid-January next year

Odaily Odaily reports that cryptocurrency research firm K33 pointed out that Bitcoin has been fluctuating since it broke through the $100,000 milestone earlier this month. However, based on historical data, Bitcoin may set a new all-time high around mid-January next year. K33 research manager Vetle Lunde said that based on data from the past three cycles, the average duration from the first time Bitcoin set a new all-time high to the last time it set a new all-time high is 318 days. Since Bitcoin set its first all-time high in the current cycle on March 5, if the average duration of the previous cycles is repeated, investors may see Bitcoin reach a new high in this cycle on January 17, 2025. Lunde wrote in a recent report: "Trump's election was a catalyst for the strong fourth-quarter market rally, and given that the political process may take time to materialize, Trump's inauguration will be the natural end of this momentum." (Morningstar)