If history repeats itself, the price of bitcoin (BTC) would not have yet reached its maximum in this bullish cycle, according to cryptocurrency analyst Ali Martínez.
“The next market peak could occur within 90 to 250 days,” says the specialist, based on historical patterns of bitcoin behavior in the months after the halving.
As CriptoNoticias has explained, the halving is the event that reduces the issuance of BTC by half every 4 years. This mechanism makes the amount of coins in circulation increasingly limited and scarce, which generates an upward price impulse due to demand.
The halving will occur until just under 21 million BTC are mined and is one of the bullish market fundamentals that attracts more investors.
In your analysis, Martínez highlights that 276 days have passed since the BTC halving and remember that the maximum market peak in 2013 occurred 367 days after this event.
Likewise, he adds that, in 2017 and 2021, BTC reached its maximum peak 527 days after the event that happens every 4 years.
In the publication on his X account, the analyst shares a graph where you can observe the BTC halving cycles, comparing the percentage performance of its price since the day the reduction event began.
Each of the lines represents a halving cycle and the numbers indicate the day it reached the maximum peak.
The current cycle is represented by the black line and shows a lower initial performance compared to the rest. Until now, Its growth is 59.23%, that is, it is still in its early stages.
The chart also reflects that each halving cycle shows a sharp rise, followed by a price correction. Furthermore, returns tend to decrease in percentage terms with each new cycle. For example, BTC had a return of 7,500% in the first cycle, while in the last it was 429%.
In this context, it should be noted that the market maintains a bullish sentiment. As CriptoNoticias has reported, BTC options soared after Donald Trump’s presidential inauguration in the United States.
According to data from CF Benchmarks, call options rose a bias of 4.4%the highest number since early November, when the Republican leader won the electoral contest over Kamala Harris.
For Thomas Erdösi, head of product at CF Benchmarks, this rise “reflects strong bullish sentiment, with traders actively positioning themselves for upside exposure on both short- and long-term maturities.”
