Dan Morehead, CEO of Pantera Capital, predicts that the next bull cycle in the cryptocurrency market will peak in 2025. In the Bankless podcast, he elaborates on the rationale for this prediction: Bitcoin follows a four-yearly halving cycle, with miner rewards halving leading to a reduction in supply. Historically, the price of Bitcoin has risen sharply before and after these events. The last halving took place in April 2024, while Morehead predicts that Bitcoin will peak in the cycle in August 2025, based on historical trends.