Crypto investors are eagerly awaiting the next chapter in Bitcoin’s story, and this veteran trader just offered up a potential plot twist.
In his analysis, Peter Brandt suggests Bitcoin could gallop towards a record high of $130,000 at $150,000 by the end of summer 2025.
Brandt’s predictions are based on a historical phenomenon known as Bitcoin halved. Every four years, the number of Bitcoins allocated to miners is cut in half, limiting supply and theoretically driving up prices.
25% chance that Bitcoin has already reached its peak
But Brandt looks deeper: he says past halving dates have roughly coincided with the middle of bull market cycles. With the most recent halving occurring in April 2024, his analysis suggests a peak 16 to 18 months later, putting us squarely in that August-September 2025 window.
Peter Brandt's analysis. Source: TradingView
Brandt himself recognizes the limits of his prediction. He cautions that “no method of analysis is foolproof,” adding a conservative 25% probability that Bitcoin has already reached its peak for this cycle. This raises a crucial question: are we already past the scramble and are we already facing a crypto winter?
Factors underlying Brandt’s analysis
Other factors temper Brandt’s optimism. One is the diminishing returns of each bull cycle. Even though all-time highs show impressive growth, gains appear to be moderating. The latest high fell short of its predecessor, and if this trend continues, it’s possible we won’t see a six-figure Bitcoin this time around.
Additionally, a price decline below $55,000 could signal bullish weakening and a potential correction, sending shivers down the spines of even the most dedicated hodlers (long-term cryptocurrency holders).
BTC market cap currently at $1.3 trillion. Chart: TradingView.com
Bitcoin Price Forecast
Meanwhile, the current Bitcoin Price Prediction indicates a strong uptrend, projecting a substantial 28% increase to reach a price of $88,600 by July 3, 2024. This optimism is supported by positive market sentiment, as reflected by technical indicators. Bullish sentiment suggests that investors are confident in Bitcoin’s upward trajectory.
Additionally, the Index of fear and greed, which currently stands at 73 (Greed), indicates that market participants are increasingly eager to invest, which could push the price even higher. This index level indicates a high level of market confidence and could be a precursor to sustained price growth if sentiment persists.
Over the past 30 days, Bitcoin’s performance has shown mixed results with a 47% success rate in recording green days, indicating that almost half of the days have been profitable. The price volatility at 4.45% suggests that while there is a large movement, it remains within a moderate range, characteristic of an active but not overly volatile market.
The combination of these factors – positive sentiment, a high greed index and relatively controlled volatility – paints a picture of a market poised for continued growth, assuming no significant external shocks or negative news have occurred. impact on the cryptocurrency landscape.
Featured image from Pngtree, chart from TradingView
