A prominent market commentator has shared an unpopular opinion on the likely timeline for Bitcoin to reach its cycle top.
Into The Cryptoverse founder and CEO Benjamin Cowen specifically stated this in his post early Friday. The top market analyst believes that despite Bitcoin closely following its 2020 price action, it is unlikely to extend its bullish run beyond this year.
Bitcoin Mirrors September 2020 Rally
Cowen highlighted an identical price development between Bitcoin’s rally in September 2020 and last month. He noted that Bitcoin held the bull market support band throughout September, just as it did five years prior. This entailed two weeks of price growth followed by two weeks of a sideways price trend.
Interestingly, Bitcoin closed September 2020 down 7.5%, compared to the 5.30% growth it experienced last month. Nonetheless, their close relation with respect to weekly price action and trend around the bull market support band sets the pace for Bitcoin to reach new highs, as seen in 2020.
For context, BTC rallied by 168% from its September 2020 closing price of $10,779 to $28,980 in December 2020. Cowen expects a similar rally, predicting new all-time highs before the end of the year.
Bitcoin Will Reach Cycle Top in 2025
Despite the bullish outlook, Cowen believes Bitcoin will reach its cycle top this year. He has repeatedly shared this sentiment but reiterated his stance today, although he highlighted that Bitcoin was mirroring a 2020 run.
Notably, 2020 was the penultimate year in the past bull cycle. After closing the year at around $29,000, Bitcoin went on to rally to $69,000 in November 2021, marking the cycle’s top.
However, the crypto founder believes Bitcoin will not extend its bullish run to next year. He expects Bitcoin to follow its historical cycle pattern and top sometime in the fourth quarter of 2025.
Conflicting Sentiment
Meanwhile, several market analysts disagree with the predictions that Bitcoin will top this year. CryptoQuant CEO Ki Young Ju stated that the four-year cycle is dead, predicting that Bitcoin would continue to rally in 2026.
Market strategist Raoul Pal believes so too, calling this cycle a “business cycle.” He suggested an extended bull market, which will potentially peak in the second quarter of 2026.
Other prominent voices, such as Bitwise CIO Matt Hougan, Binance co-founder Changpeng Zhao, and Strategy executive chairman Michael Saylor, also share similar sentiments on the length of the current bull cycle.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
