I know, I know. You probably expected me to set a higher target price for Bitcoin (CRYPTO: BTC). Everybody else is doing it, after all.

And to be fair, I've pinned a $150,000 price target on Bitcoin myself -- but not for this year. I expect that milestone to be reached in 2025 or 2026. Bitcoin's four-year cycle of price surges suggests another dramatic price gain after April's halving of mining rewards -- but don't expect that surge to materialize right away.

First and foremost, there's a clear pattern to be found in Bitcoin's price charts after each halving.

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Source Fool.com