Log Scale Investments CEO Mike Flaum has predicted Bitcoin will set a new all-time high in 2027, explicitly rejecting the idea that its price still follows a dependable four-year cycle. The forecast, drawn from an Oct. 30 interview shared by Bitcoin Magazine, places a fresh record next year before the next halving and challenges a timing framework used by many cycle-focused investors.
Flaum's comments were part of a broader discussion about companies such as Strategy and Strive that hold Bitcoin and issue securities backed by those holdings. The interview sections covering the cycle and the new high appear at 18:48 and 20:31. Bitcoin's previous record remains $126,000, reached on Oct. 6, 2025.
Galaxy Research has shifted its view during 2026. In June, it argued the four-year cycle remained visible and laid out an illustrative base-case bottom between $40,000 and $46,000. By late October, head of firmwide research Alex Thorn said the bear market likely ended in June and Bitcoin had entered an accumulation phase, citing Bitcoin's ability to hold its 200-week moving average and recover its 50-week moving average for five consecutive weeks. Galaxy also cautioned that a weekly close below the then-current 50-week average of $76,540, if not recovered within a month, would undermine that view.
Fidelity has been more cautious. Its Oct. 28 signals report described improving momentum, recovering profitability and broader participation, but noted mining economics, adoption, stablecoin activity and on-chain demand still send mixed signals. Chris Kuiper, vice president of research at Fidelity Digital Assets, emphasized that past cycles never followed exact four-year schedules and that longer holding periods have historically been more useful than trying to identify precise bottoms.
Grayscale research head Zach Pandl has pointed to economic conditions and inflation-adjusted interest rates rather than the halving calendar. In a July 22 analysis, he noted past Bitcoin bear markets coincided with weaker growth, rising real rates, or both. Pandl said that if the Federal Reserve avoids further rate hikes and economic growth holds up, Bitcoin's low may already have occurred.
