Veteran Trader Peter Brandt Predicts Bitcoin to Hit $150,000: Analysis and Forecast

Veteran trader Peter Brandt has recently made a bold prediction about the future of Bitcoin (BTC) in a blog post. Brandt highlighted the historical significance of Bitcoin halvings, noting that they have occurred at the halfway points of past bull market cycles. According to Brandt, the number of weeks from the start of each bull market cycle to the halving dates has been almost equal to the number of weeks from the halving dates to the subsequent bull market highs.

Brandt shared a chart to visually represent his argument and predicted that Bitcoin could reach as high as $130,000 to $150,000 by the third quarter of 2025. However, he also cautioned that no method of analysis is fool-proof, and his prediction could be wrong. Despite this disclaimer, Brandt pointed out that the highs of past bull markets align well against an inverted parabolic curve.

Bitcoin recently hit an all-time high of $73,737 on March 14, 2024, following the US Securities and Exchange Commission’s approval of 11 spot BTC ETFs. Since then, the price of BTC has fallen by about 6.6%, but many analysts expect it to reclaim its all-time high soon.

According to CoinCodex, Bitcoin could surge to $77,230 on June 6, 2024, with further gains expected throughout the month. The platform predicts that BTC could reach $89,066 by the end of June, representing a growth of about 29%. Similarly, Changelly anticipates Bitcoin to rally in the coming weeks, with a new all-time high of $76,091 projected for June 5, 2024, and a high of $87,730 expected by June 28, 2024.

Overall, the future of Bitcoin remains uncertain, but with bullish predictions from experts like Peter Brandt and positive momentum in the market, many investors are hopeful for continued growth in the cryptocurrency’s value.