The cryptocurrency Bitcoin recorded a 2% increase, reaching $99,000.
As of 5:29 p.m. on the 25th (New York time), Bitcoin was moving at around $99,247, up 1.57%.
After surpassing $100,000 earlier this month and aiming for $110,000, Bitcoin has paused but is again looking to break $100,000.
Cryptocurrency research firm K33 predicted that Bitcoin could reach a new all-time high in mid-January next year.
According to K33 data cited by MarketWatch, based on the last three cycle data, the average duration for each cycle to record an all-time high for Bitcoin was 318 days.
Bitcoin reached its all-time high on March 5 during this cycle, and if the average duration of the previous cycle repeats, K33 analysts expect that the cryptocurrency will reach a new ultimate peak of this cycle on Jan. 17, 2025.
Given the halving schedule that occurs every four years, if Bitcoin reaches its cycle peak in mid-January, it will be close to the day Donald Trump was inaugurated as President of the United States on Jan. 20, MarketWatch reported.
K33 analysts noted, "Trump's election was a catalyst for a strong rally in the fourth quarter, and considering it will take time for the political process to take shape, the inauguration will be the natural conclusion of the momentum." Using estimates based on previous cycle highs, he anticipated Bitcoin could peak at $146,000 in this cycle.
Based on the transfer market capitalization, he added that Bitcoin could peak at $212,500 in this cycle.