Blockstream CEO Adam Back, who has occasionally made headlines with allegations of being Satoshi Nakamoto, made remarkable assessments on Bitcoin's current market cycle. In his social media post, Back reminded that the previous halving cycle began in May 2020 and concluded with a peak of $73.7,000 in March 2024. Back noted that the current cycle began in April 2024 and predicted that, according to historical data, this cycle will end in March 2028. According to Back, taking into account a four-year gap from the previous cycle peak, the likely peak in this cycle could be seen in the last quarter of 2027 or the first quarter of 2028. However, some analysts argue that the actual peak occurred in November 2021 at $69,000, with the four-year period concluding in November 2025. “It doesn’t make sense to me to think that the bull market will end in November 2025, that is, three months from now,” said Back, adding that although there may be intermediate corrections, new all-time highs (ATH) could be seen in the coming period. At press time, Bitcoin is trading at $122,795. It's up 2.29% on the day, having reached an all-time high of $123,091.61 on July 14, 2025. *This is not investment advice.