I noticed that Adam Back, the CEO of Blockstream, has reignited the debate on Bitcoin cycles with some interesting predictions. According to his analysis, the current bull cycle would have started in April 2024 and could end between March 2028, based on historical models of previous cycles.

What stands out is how Adam Back still sees room for new all-time highs in the short to medium term. He explicitly stated that he does not believe the bull market will end in November 2025, emphasizing that temporary corrections are possible but with the expectation of new records soon. The previous cycle, for context, started in May 2020 and reached $73,700 in March 2024.

Adam Back suggests that the current peak could occur in the last quarter of 2027 or early 2028, although some still remember the $69,000 high touched in November 2021. Currently, BTC is trading around $70,960, far from the recent all-time highs of $126,080.

Adam Back's thesis is interesting because it contrasts with those who already declare the cycle over. If his projections prove correct, it would mean that the market still has significant appreciation margins in the coming months. Of course, as always with cycle forecasts, multiple variables remain, and unexpected corrections are always possible.