Bitcoin (BTC) continues to excite investors with its recent rise. Bitcoin, which broke the resistance of $ 53 thousand on February 26 and rose to $ 56,700, reached its highest level since November 2021. Meanwhile, a Bitcoin prediction came from veteran technical analyst Peter Brandt and Swissblock analysts. Here are the details…
Swissblock analysts gave the hint of ATH
Crypto analysis firm Swissblock pointed out a $58,000 target for Bitcoin in its market reports dated February 26. Analysts emphasized that an all-time high level (ATH) may occur when $58,000 is exceeded. According to analysts, Bitcoin broke out of the range it has been in since February 15. Thus, he gave a hint of the rising momentum. According to analysts, a record will be achieved if $58,000 is broken.
Peter Brandt excited with his Bitcoin prediction
On the other hand, Peter Brandt, an analyst with more than four decades of experience covering markets, expects the ongoing Bitcoin (BTC) bull market to peak at $200,000, a significant upward revision from the initial estimate of $120,000. Veteran analyst and Factor LLC CEO Peter Brandt predicts that Bitcoin could rise to $200,000 by September 2025.
Brandt stated that he increased his bull market target from 120 thousand dollars to 200 thousand dollars with the upper limit of the 15-month channel being exceeded. Bitcoin’s halving in April could see prices reach at least six figures in the next 12 months. Halving halves Bitcoin’s production rate, making supply scarce, which puts upward pressure on the price.
Watch out: Are “laser eyes” coming back?
Other studies paint a similarly bullish picture for Bitcoin. Studies based on previous halving cycles and technical analysis indicators such as Bollinger bands predict a steep rise in the near future. The “laser eyes” meme used by Bitcoin investors during the 2021 bull market has started to regain popularity recently. Brandt said the following on the subject:
Just like I did in 2021, I will use laser eyes on the ‘X’ as a contrarian indicator. So folks, if you want Bitcoin to stay in a strong trend, please don’t use laser eyes on your social media images. Too much laser eye will cause CODE.
Brandt said this could be a sign of retail investor frenzy and that the market is nearing its peak. In conclusion, recent developments in Bitcoin are quite exciting. Targets such as $58 thousand and $200 thousand attract investors. However, cryptokoin.com As we reported, warnings that the market is approaching its peak should not be ignored.
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