As an analyst with over two decades of experience in the financial markets, I find Peter Brandt’s predictions intriguing but require a cautious approach. His unique perspective on halving cycles is certainly compelling, and his track record speaks for itself. However, it’s essential to remember that market cycles are not always perfect symmetries, and even the most accurate charts can be influenced by unforeseen events.
In simpler terms, well-known commodities trader Peter Brandt anticipates that the value of Bitcoin could reach a record high of approximately $150,000 by around August of next year.
As per the chartist’s analysis, the foremost cryptocurrency is presently situated at a favorable phase in the upswing period of the bull market trend.
As noted by Brandt, he tends to measure halving cycles differently compared to other traders.
Previously, the commodity trader observed that the halving dates often show a remarkable similarity or “near-perfect” pattern in the historical market cycles.
It’s nearly the same duration, or approximately equal, from the point of a bear market’s bottom to a halving event, as it is from the block reward distribution to the peak of a bull market cycle.
According to my analysis, I anticipate that the cryptocurrency will likely hit its peak within the current cycle around 2025.
Previously, I posited that for the leading cryptocurrency to stave off “exponential decay,” it needed to attain a fresh high.
On November 6th, Bitcoin broke through its prior record high, soaring momentarily over $76,000 before hitting an unprecedented peak of $76,243, as reported by U.Today.
As a researcher, I’m sharing an intriguing perspective from chartist Josh Olszewicz. He predicts that the price of Bitcoin could effortlessly surge to $80,000 within a month. Despite a bullish divergence visible on the one-hour chart, he suggests this trend might be quickly countered by setting a new all-time high.
As an analyst, I’m observing that at the moment, the leading cryptocurrency is being traded at approximately $74,889, marking a slight decrease from its previous highs. However, it has shown a significant increase of almost 4% over the last seven days.
Inflows of approximately $622 million were strongly recorded for Bitcoin ETFs, also marking a new high in trading volume.
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2024-11-07 08:42