Bitcoin is on the verge of significant price action if it can navigate potential highs, according to veteran trader Peter Brandt. Brandt highlighted the importance of Bitcoin’s historical price cycles, suggesting the possibility of a bull market peak in the near future.

“It is reasonable to expect a bull market high any day now,” Brandt indicated on Wednesday, through Cointelegraph, referencing Bitcoin’s (BTC) previous cycle patterns that transpired across its past three cycles.

Brandt stated, “These cycles from low-to-halving-to-high have not always matched in duration, but each has consistently reflected equal distances before and after the halving stage.”

Key Moment in Bitcoin’s Cycle

He pointed out that Bitcoin has reached its current cycle low as of November 9, 2022, occurring 533 days ahead of the halving set for April 20, 2024.

“Add 533 days to April 20, 2024, and bingo, it is this week,” he remarked, noting the upcoming date coinciding with Bitcoin’s potential to reach a new record high exceeding $126,100, recorded on the following Monday.

Bitcoin Trading

Current Bitcoin Trading Price: $122,070, with a 9.74% increase over the past month. Source: CoinMarketCap

Despite his optimistic outlook, Brandt cautiously noted, “there is always an ‘except,’” which could pose a risk to Bitcoin’s price trajectory. He emphasized, “Trends that deviate from the typical cyclic patterns often yield the most striking outcomes.”

Brandt expressed that while market cycles vary, Bitcoin’s past adherence to such trends has been impressive, which invites cautious optimism.

“Sooner or later, cycles shift. However, avoiding a cycle with a flawless track record should be approached with care,” he advised.

He considers the situation to be a toss-up, stating, “I will stay bullish, with hopes for counter-cyclicality. Ideally, I foresee Bitcoin moving far beyond $150,000, potentially reaching as high as $185,000.”

Continuing Debate on Bitcoin’s Four-Year Cycle

The conversation remains ongoing regarding the pertinence of the four-year cycle in light of increasing institutional engagement, the advent of ETF products, and corporate investment in digital assets.

In July, crypto analyst Rekt Capital asserted that if Bitcoin follows the 2020 trajectory, the market might reach its peak in October.

“We are left with a small window for price expansion,” Rekt mentioned on July 3.

Some analysts believe that even if Bitcoin diverges from the exact four-year cycle, predictable patterns will still emerge.

Saad Ahmed, the head of the APAC region at Gemini, remarked to Cointelegraph during Token2049 that the cycle stems from market excitement that leads to overextensions followed by a crash, eventually correcting to a balanced state.

Related: Bitcoin on Course for a Squeeze as $88B Open Interest Raises Concerns

Several analysts anticipate notable Bitcoin gains by year-end. Economist Timothy Peterson revealed that there is a 50% likelihood Bitcoin will finish the month exceeding $140,000, based on simulations from the last decade. Furthermore, figures like BitMEX co-founder Arthur Hayes and Unchained’s market research director Joe Burnett predict Bitcoin could soar to $250,000 by the close of 2025.