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Tuesday, June 4, 2024
HomeCryptoLegendary trader Peter Brandt predicts Bitcoin will reach $150,000

Legendary trader Peter Brandt predicts Bitcoin will reach $150,000

Legendary trader Peter Brandt sold Bitcoin to hold USD

Veteran trader Peter Brandt recently published a blog post highlights how Bitcoin (BTC) halving has occurred at the midpoint of past bull market cycles.

Brandt claims “the number of weeks from the start of each bull market cycle (the low after a drop of more than 75%) until the halving date is almost the same as the number of weeks from the halving date to the bull market peak.” next…”

The veteran trader also shared a chart to visualize his argument.

Furthermore, using the aforementioned analysis, Brandt predicts Bitcoin (BTC) will rise as high as $130,000 to $150,000 by Q3 2025, a little over a year from now. However, the trader notes: “No analytical method is perfect. Therefore, my prediction may be wrong.” He added “it should be noted that the highs of past bull markets are quite consistent with an inverted parabolic curve.”

When will Bitcoin (BTC) regain its all-time high?

BTC reached an all-time high of $73,737 on March 14, 2024. This increase was driven by the US SEC (Securities and Exchange Commission) decision to approve 11 BTC ETFs spot (Exchange Traded Fund). BTC price has dropped about 6.6% since its March peak. Despite the correction, many analysts predict BTC will soon regain its all-time high.

According to CoinCodex, Bitcoin (BTC) could rise to $77,230 by June 6, 2024. Furthermore, the platform predicts BTC will continue to increase in price throughout the month. CoinCodex predicts BTC will reach $89,066 by the end of this month. Reaching $89,066 from current levels would result in growth of about 29%.

Changelly also predict Bitcoin (BTC) will increase in price in the coming weeks. The platform predicts BTC will reach a new all-time high of $76,091 on June 5, 2024. Furthermore, the platform predicts BTC will reach a high of $87,730 on June 28, 2024.

See more: Thailand opens doors to first Bitcoin ETF

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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