Can Bitcoin Rise 150% From Here? Crypto Expert Peter Brandt Predicts The Top
04 June 2024 - 7:00AM
NEWSBTC
Despite the Bitcoin decline below the $70,000 price mark, a crypto
analyst still maintains an optimistic outlook for the pioneer
cryptocurrency, predicting that the price of Bitcoin could reach
its top soon. Analyst Says Bitcoin’s Top Is $150,000 On June
2, crypto analyst, Peter Brandt released a blog post predicting
Bitcoin’s top in the current bull cycle. According to Brandt, the
price of Bitcoin is expected to witness an exponential surge
between the range of $130,000 to $150,000. Related Reading:
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Catastrophic Crash Brandt foresees Bitcoin’s peak to occur in 2025
between late August and early September. The analyst has based his
predictions on the cryptocurrency’s previous halving dates,
highlighting that this cyclical event tends to continually present
an “almost perfect symmetry within past bull market cycles.” The
Bitcoin halving is a four-year cycle event which cuts mining
rewards by half, thereby reducing supply and potentially driving up
the price due to increased scarcity and heightened demand for the
cryptocurrency. Brandt has suggested a possible
correlation between Bitcoin’s bull runs in the past with the
onset of its halving cycle, emphasizing that following each halving
year, Bitcoin has witnessed a surge to new all-time highs. More
specifically, he pointed out that the number of weeks from
Bitcoin’s market bottom to the halving dates was nearly the same
duration as the halving dates to the next bull market peak.
In his blog post, Brandt shared a price chart depicting Bitcoin’s
price movements from 2010 to 2025, highlighting the
cryptocurrency’s past performances after the halving events. The
crypto analyst emphasized that after the halving event in 2012, and
2016, Bitcoin witnessed a significant bull run which pushed its
price to new all-time highs. The most notable bull cycle was
seen in 2021 which came after the May 2020 halving event, with
Bitcoin’s price surging to a previous all-time high of around
$69,044. Based on this recurring pattern, Brandt’s optimistic
prediction sees Bitcoin potentially reaching as high as $150,000 in
the next bull market. 25% Probability That Bitcoin Has Topped
For This Cycle While expressing his bullish outlook for Bitcoin,
Brandt also disclosed a more pessimistic assessment of the
cryptocurrency’s future price. The analyst has placed a 25%
probability that Bitcoin has topped this bull market cycle.
Related Reading: Expert Charts 1,400% Course To $7.5 For XRP Price
As RSI Falls To All-Time Low This assessment is based on Bitcoin’s
massive rally earlier this year, spurred on by the approval and
launch of Spot Bitcoin ETFs. In March 2024, the price of Bitcoin
surpassed its previous 2021 high, exceeding $73,000 and officially
marking a new all-time high. Following historical
trends, Bitcoin typically witnesses a bull rally to new all-time
highs after its halving event. However, against the norms, the
cryptocurrency experienced a peak above $73,000 before its halving
event on April 20. Brandt has disclosed that if Bitcoin fails
to reach a new all-time high after its halving event, he expects a
price decline towards $55,000. The analyst predicts that a drop
below $55,000 will raise the probability of “Exponential Decay,”
implying a long-term downward trend for the cryptocurrency.
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