Van Straten Predicts Bitcoin Could Hit $1M by the End of the Year if It Follows 2017 Pattern.

Bitcoin Up 550% Since FTX Collapse, Predicting $1M by Year-End If It Follows 2017 Cycle

Bitcoin (BTC) has surged approximately 550% from its cycle lows following the FTX collapse, which saw the cryptocurrency drop to around $15,500 in November 2022. At that time, the sentiment in the market was dominated by fear, with many predicting that Bitcoin and the broader cryptocurrency market would not recover.

However, just over two years later, Bitcoin is trading well above $100,000, fueled by the potential for a more crypto-friendly U.S. administration under President Donald Trump, who has yet to announce any specific cryptocurrency policies.

Bitcoin’s Halving Cycle and Historical Price Trends

A key factor in Bitcoin’s performance is its four-year cycle, driven by its halving program, which cuts the supply of Bitcoin every four years. Historical data shows that these halving events are followed by significant price increases, particularly in the year after the halving. The current cycle appears to be following the same pattern as the previous two.

Currently, Bitcoin is up about 550% from its low following the FTX collapse (marked by the black line on the chart). If we compare this to the 2015 to 2018 cycle (represented by the blue line), Bitcoin had also risen by a similar amount from its cycle low on January 14, 2015.

Comparing This Cycle to Previous Ones

According to Glassnode data, which uses the closing price at 00:00 UTC, the green line represents the 2018 to 2022 cycle, showing Bitcoin was up around 1,300% at this point in the cycle—more than double the current 550% gain.

If Bitcoin continues to follow the 2015 to 2018 cycle, it could rise 1,100% more from its cycle low by the end of Q1 2025, potentially reaching a price of $186,000. The cycle’s peak could occur as soon as October 2025, with Bitcoin reaching a high of $1.7 million, representing an 11,000% increase.

Bitcoin’s Performance During U.S. Presidential Terms

Bitcoin’s performance also correlates with the U.S. presidential cycle. As noted by Bitcoin Archive on X, Bitcoin rose 20x during Donald Trump’s first term in office. If Bitcoin were to repeat a 10x return from its current position, the price could approach $1 million by the end of this cycle.

Overall, Bitcoin’s recovery from the lows of the FTX collapse, coupled with its historical four-year cycle and the potential impact of a crypto-friendly regulatory environment, suggests that Bitcoin could reach unprecedented heights in the near future, with $1 million per Bitcoin possible by the end of the current cycle.