Kevin Swenson predicts when bitcoin will break the all-time high

A well-known crypto analyst Kevin Swenson has shared his forecast of when the first cryptocurrency BTC $97,492.53 Bitcoin 0.37% Market capitalization $1.93 trillion VOL. 24 hours $5.31 billion will reach a new historical record and named the factors that could affect its growth.

According to Swenson’s calculations, bitcoin will reach a new peak within the next six months. The analyst substantiated his forecast by the previous movements of the market leader’s rate after the previous halving. «Historically, bitcoin has peaked 40−80 weeks after a halving,» Swenson said.

The halving of 2024 should follow this pattern, and in January 2025, bitcoin will reach new heights, the analyst believes. This period is not only in line with BTC’s historical performance but also coincides with the month of the US presidential inauguration after the November elections. According to Swenson, this important coincidence will have a positive impact on the bitcoin rate.

«Bitcoin may even exceed expectations. The market is capable of significant growth before January 2025, so we should not rule out strong volatility in the coming months,» the analyst warns. If bitcoin continues to trade sideways for a long time, the first cryptocurrency will peak only after January.

Earlier, analysts at the Bitfinex cryptocurrency exchange suggested that after the halving, demand for bitcoin would exceed supply five times, as the daily volume of coin issuance would decrease. According to Pantera Capital, the bitcoin price could rise to $ 150,000 by July 2025.