Independent analysis from Piper Sandler suggests the current bullish trend in the crypto market, particularly for Bitcoin, has considerable momentum left. Analysts at the firm anticipate that this rally could potentially continue for over a year, driven by historical patterns observed after Bitcoin’s halving events. This outlook provides a timeframe for investors and market watchers to consider the potential duration and scale of the ongoing market cycle.
Bitcoin’s Cycle Peak Anticipated in October 2025
Analysts from Piper Sandler, including Patrick Moley, project that the peak of the current Bitcoin bull cycle is likely still some time away. Their assessment is based on studying the timelines of previous cycles relative to the halving events. Historically, significant price peaks have occurred approximately 1,050 to 1,070 days after the cycle’s lowest point.
Given that the most recent market bottom was identified around November 21, 2022, when Bitcoin traded near $15,500, applying the historical pattern suggests the peak could be reached around 158 days from the time of the analysis. This calculation places the potential cycle high point squarely in October 2025. Furthermore, historical data from the last three cycles (2013, 2017, and 2021) indicates that Bitcoin’s price experienced an average increase of 585% during the final five months leading up to its peak.
Outlook for Crypto Companies
The positive forecast for cryptocurrency values extends to companies operating within the sector. Piper Sandler analysts believe that firms involved in the crypto ecosystem are well-positioned to benefit from increasing asset prices and market activity volumes. This includes exchanges, brokers, and infrastructure providers.
However, the report notes that regulatory uncertainty remains a significant factor influencing the market. While acknowledging some positive steps from bodies like the SEC and FDIC, such as the formation of task forces and clearer guidelines for banks engaging with digital assets, the market is still awaiting comprehensive legislative clarity.
Company Specific Views: Robinhood and Coinbase
Within the landscape of publicly traded companies in the crypto space, Robinhood (NASDAQ:HOOD) is highlighted by Piper Sandler as a favored stock. The firm views Robinhood as offering the most attractive risk/reward profile for capitalizing on the current market upswing. This assessment is based on Robinhood’s diversified platform and strong trading volumes across various asset classes, including record levels for stocks and options in recent periods, despite a slight dip in crypto volume specifically.
In contrast, Coinbase (NASDAQ:COIN) faces specific challenges, particularly concerning its proposed acquisition of Deribit for $2.9 billion. While this deal could significantly expand Coinbase’s footprint in the global crypto derivatives market, its success and strategic value are heavily contingent on regulatory developments. Analysts point out that Deribit’s current product offerings are not compliant with US regulations, meaning Coinbase would be unable to offer these specific derivatives to its substantial US customer base without a shift in the regulatory environment.
Resilience of Crypto Miners
Looking ahead, the report suggests that cryptocurrency mining companies are expected to maintain a strong position through the latter half of 2025. This projection is supported by the growing demand for energy infrastructure. This demand is being simultaneously fueled by the increasing needs of both the artificial intelligence sector and the expanding cryptocurrency mining operations.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!