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22.11 - 19:59
Bitcoin will peak at $253K, Ethereum at $22K this cycle if 2016 halving bull run repeats
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Bitcoin (BTC) may be over seven times higher than at its last halving, but is history repeats, that number could grow another 300% and more.
As tracked by on-chain data source Ecoinometrics this month, BTC/USD has the potential to eclipse estimates simply by following historical precedent.
Bitcoin currently trades 7.3 times its price at the halving in May 2020. If the last halving cycle is anything to go by, however, price action will not stop until it is 30 times higher.
The data relates to the roughly four-year halving cycles in which Bitcoin has exhibited identical behavior since its inception.
The current cycle, despite impatience from some traders, remains closely tied to the previous two.
Taking 2017 as an example, the next BTC price peak
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