Golden Finance reported that Pantera Capital CEO Dan Morehead predicted that the next bull market cycle in the cryptocurrency market will peak in 2025. On the Bankless podcast, he elaborated on the basis for this prediction: Bitcoin follows a four-year halving cycle, in which miner rewards are cut in half, resulting in a reduction in supply, and Bitcoin prices have historically surged before and after these events. The last halving occurred in April 2024, and Morehead predicts that Bitcoin will reach a cycle peak in August 2025 based on historical trends. He emphasized that although current market conditions are relatively mild, the upcoming upward trend is still worth looking forward to. Morehead said: "The outlook for 2025 is very optimistic, not only because of the halving event, but also because of the political and macroeconomic factors that coincide with the development of cryptocurrencies." He predicted that the price of Bitcoin at its peak would be $117,000, which is higher than the current price. The price is 18% higher. He further pointed out that historical data shows that the impact of halving events usually begins to be felt 400 days ago, while the peak occurs approximately 480 days later. Looking back to 2022, when Bitcoin was trading at $17,000, Pantera Capital accurately predicted that it would reach $28,000 before the halving event. Today, Morehead is confident in his prediction of Bitcoin reaching $117,000 by August 2025.