A well-known market analyst has expressed a controversial view regarding when Bitcoin might hit its peak in this cycle.
Benjamin Cowen, the founder and CEO of Into The Cryptoverse, shared his thoughts on Friday. He suggests that even though Bitcoin is closely following its 2020 price trends, it is unlikely to continue its upward trajectory beyond this year.
Bitcoin Echoes September 2020 Surge
Cowen pointed out similarities between Bitcoin’s rise in September 2020 and last month. He observed that during September, Bitcoin maintained support within the bull market band just as it did five years ago. This pattern included two weeks of rising prices followed by two weeks of stability.
Bitcoin Expected to Peak in 2025
Despite a positive outlook, Cowen predicts that Bitcoin will reach its peak this year. Although he has consistently voiced this opinion before, he reiterated today while noting the parallels with the 2020 trend.
The year 2020 was notably one step away from reaching the previous bull cycle’s climax. After ending at approximately $29,000, Bitcoin surged to $69,000 by November 2021, marking that cycle’s zenith.
However, Cowen believes that Bitcoin won’t extend its bullish phase into next year but will instead follow historical patterns and reach a high point sometime in late 2025.
Divergent Opinions
In contrast, some analysts disagree with predictions about a peak occurring this year. Ki Young Ju from CryptoQuant declared that the four-year cycle concept is obsolete and anticipates continued growth into 2026 for Bitcoin.
Raoul Pal shares similar views calling it more akin to a “business cycle.” He envisions an extended bull run potentially culminating around mid-2026.
Numerous influential figures such as Matt Hougan from Bitwise CIO, Changpeng Zhao (Binance co-founder) and Michael Saylor (Strategy executive chairman) also agree on extending current bullish conditions’ duration further than previously anticipated.