On January 21, CoinDesk analyst James Van Straten wrote that if Bitcoin continues to follow the 2017 cycle, it may exceed $1 million by the end of the year. Currently, Bitcoin’s price is up approximately 550% from cycle lows, a performance consistent with previous cycles. In discussions about Bitcoin, the analysis of the four-year cycle has attracted much attention. This cycle revolves around Bitcoin’s halving mechanism, which reduces the supply every four years. Typically, the year following each halving is followed by a significant increase in Bitcoin price, and the current cycle continues to show a similar trend to the previous two cycles. As of now, the price of Bitcoin is up approximately 550% from the cycle low ($15,500) when FTX crashed. The data shows that in the current cycle, Bitcoin is performing similarly to the 2015 to 2018 cycle: after the cycle low on January 14, 2015, Bitcoin (blue line) was also up about 550% at that time. If Bitcoin continues to follow the 2015-2018 cycle trend, its price could rise approximately 1,100% from the cycle low to $186,000 by the end of the first quarter of 2025. The peak of this cycle will likely occur in October of this year, with an increase of 11,000%, pushing the price to approximately $1.7 million.