Bitcoin has recently demonstrated robust performance, climbing to $123,000 before stabilizing at $117,000. Analyst Merlijn The Trader predicts that Bitcoin's price could reach $200,000 by 2025, driven by the 4-year cycle associated with Bitcoin halving events. Historical patterns suggest a year-long rally following halvings, and current market conditions indicate Bitcoin is still in a growth phase, potentially experiencing a 50% rally before the bull market ends.