Veteran Trader Peter Brandt Predicts Bull Market High For Bitcoin, Here’s The Target

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As a seasoned cryptocurrency analyst with years of experience under my belt, I find myself intrigued by Peter Brandt’s prediction of Bitcoin hitting $150,000 by 2025. This isn’t the first time I’ve heard such a bullish outlook for BTC, and it certainly won’t be the last.

Experienced trader Peter Brandt anticipates that Bitcoin could reach an all-time high of $150,000 by 2025, mirroring an earlier prediction from Bernstein analysts regarding the price of BTC. This optimistic outlook for cryptocurrency follows a recent surge in value up to $58,000, leading experts to debate whether this increase signifies a temporary recovery or a significant market shift.

Peter Brandt Predicts Bitcoin Will Hit $150,000 By 2025

According to Peter Brandt’s prediction, Bitcoin could reach $150,000 by the year 2025. A chart he presented in a Reddit post suggests that this figure would represent the peak for BTC during the current bull market trend. In the past, Brandt has made similar predictions and hinted at previous halving cycles. His analysis points out that Bitcoin’s price tends to reach its maximum between 16 to 18 months following every halving event.

Veteran Trader Peter Brandt Predicts Bull Market High For Bitcoin, Here’s The Target

Notably, the expert trader’s forecast coincides with similar predictions made by other analysts. Back in March, following Bitcoin’s new record high of $73,000, Bernstein analysts expressed confidence that the premier cryptocurrency could reach $150,000 by 2025. They based this prediction on factors such as the halving event (which occurred in April) and the success of Spot Bitcoin ETFs, both of which they believe will fuel Bitcoin’s price growth during this bull run.

Analyst Tom Lee from Fundstrat predicts that the value of Bitcoin could soar to an astounding $150,000. However, he has cautioned that this price point might be achieved this year. Similar predictions about Bitcoin’s potential to reach $150,000 have been made by well-known crypto analyst Mikybull Crypto within the context of this market cycle.

However, some crypto analysts like Justin Bennett have presented a more pessimistic view on Bitcoin’s price. In contrast to the bullish forecast of $150,000 from other experts, Bennett suggests that this might not occur as he believes the halving cycles do not necessarily spark bull runs. Instead, he argues that Bitcoin’s value is influenced by broader economic trends.

crypto expert Ali Martinez, often referred to as a Bitcoin advocate, has also proposed that the price of Bitcoin might fall to around $31,500 in the near future. He suggested this could occur if Bitcoin’s price dips below its Realized Price-to-Vibrancy Ratio, which stands at $51,600.

Historically, when Bitcoin’s price dips below its Realized Price-to-Vitality Ratio (currently at $51,600), it tends to fall even lower towards its Realized Price, which is currently at $31,500. In simpler terms, if Bitcoin’s price drops below the $51,600 level where its historical performance and investor expectations meet, it might continue to decrease until it reaches the $31,500 mark.

Factors That Could Propel Bitcoin To $150,000

Besides the halving cycle potentially driving Bitcoin’s increase to $150,000 in this bull market as predicted by Peter Brandt, another factor that could push the cryptocurrency to this price point is the upcoming US presidential election in November. Cryptocurrency has emerged as a significant topic of discussion prior to the election, with both Donald Trump and Kamala Harris attempting to attract crypto voters.

Currently, it appears that Donald Trump is garnering support from the cryptocurrency community, as he has outlined his proposed crypto policies if re-elected as President. This has sparked optimism among analysts like Geoff Kendrick, head of digital assets research at Standard Chartered, who considers a Trump victory as potentially beneficial for Bitcoin. In fact, Kendrick forecasted in June that Bitcoin could reach $150,000 by the end of the year if Trump becomes the next U.S. President. Similarly, analysts from Bernstein predict that Bitcoin’s value could rise to $90,000 should Donald Trump win the election.

US Federal Reserve rate reductions might contribute to Bitcoin reaching $150,000, as they provide another driving force. The price of BTC has remained relatively static mainly due to insufficient liquidity within its market. However, quantitative easing (QE) by the Fed could address this problem, as it would encourage investors and traders to be more confident in investing in a risk asset such as Bitcoin because of the increased certainty offered by the Fed’s actions.

Relief Bounce Or Bullish Reversal For Bitcoin?

In the past 24 hours, Bitcoin reached $58,000, hinting at a possible bullish reversal for the top cryptocurrency. Yet, crypto expert Jesse Olson believes that Bitcoin’s price is still experiencing a downtrend and considers the recent recovery as merely a rebound from stress. In a post on X, Olson pointed out that Bitcoin has produced two consecutive Heikin Ashi weekly candles without an upward week, indicating that the current downward trend may persist.

UPDATE: The second successive Heikin Ashi weekly candlestick for Bitcoin shows no upper wick, indicating that the current downtrend may persist.

— Jesse Olson (@JesseOlson) September 9, 2024

At the moment, the Bitcoin price stands approximately at $57,000, and there’s been a noteworthy surge in its trading activity – an increase of more than 47% in the past 24 hours.

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2024-09-10 14:45