The bullish rally in the Bitcoin market may end in December
A cryptocurrency analyst known as Mags reported that the bullish rally in the Bitcoin market could end as early as December 2024.
Historical data suggests that the BTC price pump subsides quite quickly after the coin’s exchange rate reaches its all-time high. In 2017, the bullish trend fizzled out within nine months after this event, and in 2021, within a year.
In 2024, the price of Bitcoin in March broke the record set in 2021. Accordingly, drawing an analogy with the two previous cycles, we can assume that the upward trend will cease to dominate the market in the period from December 2024 to March 2025.
Previous cycles in the Bitcoin market
Mags believes that the Bitcoin rate will rise very significantly from its current value. In his opinion, the new peak price of the coin will be reached at a minimum of $150,000, and at a maximum of $210,000. Apparently, the expert identified these goals for the bulls, taking into account the slowdown in the speed of the upward movement.
