Blockstream CEO Adam Back shared his assessments of the current Bitcoin market cycle. He analyzed previous cycles and made future predictions.
History of Bitcoin Market Cycles
Back reminded that the previous halving cycle began in May 2020 and ended with a peak of $73,700 in March 2024. He noted that the current cycle started in April 2024 and, based on historical data, is likely to end in March 2028.
Future Predictions
According to Back, considering the four-year gap from the previous cycle peak, the new peak in this cycle could happen in the last quarter of 2027 or the first quarter of 2028. However, some analysts argue that the actual peak occurred in November 2021 at $69,000, with the four-year period concluding in November 2025.
Current Market Data
As of press time, Bitcoin is trading at $122,795, up 2.29% on the day, having reached an all-time high of $123,091.61 on July 14, 2025.
Adam Back emphasizes that it does not make sense to think that the bull market will end in November 2025, suggesting that new all-time highs could occur in the coming years.
