Blockstream CEO Adam Back, who occasionally made headlines with allegations that he was Nakamoto, made a prominent evaluation of Bitcoin’s current market cycle.
In his social media post, Buck reminded him that the previous half-cycle began in May 2020 and ended in March 2024 at a peak of $73.7,000.
According to Back, considering the four-year gap from the previous cycle peak, the possibility of peaking in this cycle was seen in the last quarter of 2027 or the first quarter of 2028. However, some analysts claim that the actual peak occurred at $69,000 in November 2021, with four years ended in November 2025.
“It makes no sense to think that Bull Market will close in November 2025, or three months from now,” Buck said, adding that there may be a midterm revision, but that there may be a new all-time high (ATH) in the coming period.
At the time of pressing, Bitcoin was trading at $122,795. The day rose 2.29%, reaching an all-time high of $123,091.61 on July 14th, 2025.
*This is not investment advice.
