Veteran commodity trader Peter Bradt Bitcoin A new comment after the price recently touched the top again made. The trader also discussed the date and potential target of the new top.
When Bitcoin has a sudden and sharp shake-out decline, the market is just winking at you $BTChttps://t.co/Qip2tQ5h44 pic.twitter.com/KSbGYvTFlW
NEWS CONTINUES BELOW— Peter Brandt (@PeterLBrandt) March 6, 2024
Based on data on Bitcoin price behavior before and after previous halvings, Brandt suggested that one possible scenario would be for the price to reach an all-time high and $150,000 per BTC in October 2025.
According to the forecast, this will happen provided that “the pace of the bull trend after April 2024 is similar to that of the bull trend since the November 2022 low.”
However, Brandt also noted that during previous bull cycles, post-calving advances were much steeper than before. This does not confirm the prediction that Bitcoin will reach $150,000 in October next year. Additionally, at the beginning of the “2022 to 2025 bull cycle” section, Brandt emphasized that extrapolating past price movements into the future is highly speculative.
In a tweet published in mid-June 2022, Brandt expressed that he expects the Bitcoin market to see a major uptrend in early 2024. This tweet was the second part of the previous tweet. The first stated that BTC would not reach its all-time high until early 2024. However, Brandt’s prediction came true, as that $69,200 milestone was surpassed on Tuesday, the day after he shared his 2022 tweet.
On Tuesday, just after reaching a new historical price peak, Bitcoin fell more than 14% to $59,270. It bounced off that level and rose again to return to $67,302, up 13%. Currently, Bitcoin is trading at $66,803.
