Crypto expert reveals final Bitcoin high of this bull market
Crypto expert reveals final Bitcoin high of this bull market 
Cryptocurrency Dec 18, 2024 Share
Since it reignited the bull run in earnest in early November, Bitcoin (BTC) has rallied 56.52% to recent highs above $108,000, and, even when the latest drop to the press time price of $105,644, the cryptocurrency remains 52.17% in the green within the time frame.
BTC 6-month price chart. Source: Finbold
The relatively continuous strength of BTC and the fact that the market has been rising for approximately 12 months by press time on December 18 have led many to question if the upsurge will persist or if the next ‘crypto winter’ is around the corner.
One way investors and analysts have been trying to gauge when Bitcoin will peak in this cycle has been by examining the historical charts and, based on a December 18 X post, the prominent on-chain expert Ali Martinez may have identified where BTC will top.
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Here’s how high Bitcoin will go in this cycle
Having superimposed the gains of previous bull markets – the 2017 and 2020 ones, to be precise – Martinez concluded that Bitcoin will be free of noteworthy pullbacks until it hits $110,000.
Such an estimate appears plausible as, earlier this week, BTC broke the recent trend of experiencing a Monday drop after a Sunday rally.
Furthermore, investors appear to have gotten used to MicroStrategy (NASDAQ: MSTR)-induced shocks as the latest news of a massive purchase did little to drive Bitcoin lower, unlike, for example, on November 24 and November 25.
Still, Martinez foresees two major correction zones in the relatively near future. Specifically, the cryptocurrency analyst forecasted that a significant pullback would occur after $125,000 was reached and that hitting $150,000 would generate an even greater downturn before the rally could continue.
Finally, the on-chain expert concluded that whether the current cycle mimics the 2017 or 2020 bull market, Bitcoin will not go higher than $220,000 before the next crypto winter.
Where BTC will top in the current cycle based on historical patterns. Source: Ali Martinez
Why $220,000 might not be a realistic Bitcoin price target
Interestingly, such historical pattern analysis runs contrary to multiple experts and prominent investors.
Indeed, the author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki, as well as the legendary Wall Street analyst Tom Lee, both forecasted BTC would hit $250,000 before 2025 is over.
Simultaneously, cryptocurrency lobbyist Perianne Boring went even further with a prediction Bitcoin would climb to at least $800,000 next year.
Elsewhere, all three targets may prove overly ambitious as, despite the undeniable upward momentum, the world’s premier cryptocurrency is already up some 150% in the last 12 months, and, despite historical rallies being even greater, cycle gains have been diminishing as BTC price increased.
