Bitcoin's historic four-year halving cycles are still producing new highs, but each bull market peak has delivered smaller multiples than the last. Analysts predict that Bitcoin could reach $300,000 to $500,000 by 2029, but key data suggests these forecasts may be overly optimistic.
Unlike gold or stocks, Bitcoin tends to move in clear four-year cycles centered on the mining reward halving. The first halving occurred in 2012, and the fifth is scheduled for April 2028.
- 2013: $266
- 2017: nearly $20,000 (75x from previous high)
- 2021: ~$69,000 (3.5x from 2017)
- 2025: $126,000 (just 1.8x from 2021)
This indicates that bull runs are becoming steadier, with more measured gains.
