Cryptocurrency investors are eagerly awaiting the next chapter in Bitcoin’s story, and this seasoned trader has just suggested a potential plot twist.
Peter Brandt suggests this in his analysis Bitcoin could gallop towards a record high of $130,000 $150,000 by the end of summer 2025.
Brandt’s forecast is based on a historical phenomenon known as Bitcoin halving. Every four years, the number of Bitcoins awarded to miners is halved, limiting supply and theoretically raising prices.
25% chance that Bitcoin has already reached its peak
But Brandt digs deeper and says past halving dates have coincided roughly with the middle of bull market cycles. Since the last halving occurred in April 2024, his analysis suggests that the peak will occur 16-18 months later and land in the August-September 2025 window.
Peter Brandt's analysis. Source: TradingView
Brandt himself admits that his predictions are circumscribed. He cautions that “no analysis method is foolproof,” adding a conservative 25% chance that Bitcoin may have already peaked this cycle. This raises a critical question – are we past the panic and looking at a crypto winter?
Basic factors of Brandt’s analysis
There are additional factors that temper Brandt’s optimism. One is the diminishing returns of each bull cycle. While historical highs indicate impressive growth, gains appear moderate. The last peak was worse than the previous one and if this trend continues, there is a risk that we will not see a six-figure Bitcoin this time.
Additionally, a price drop below $55,000 could signal a weakening bull and a potential correction, sending shivers through even the most dedicated hodlers (long-term cryptocurrency holders).
BTC market cap currently at $1.3 trillion. Chart: TradingView.com
Bitcoin price forecast
Meanwhile, electricity Bitcoin price prediction indicates a forceful uptrend, forecasting a significant escalate of 28% to a price of $88,600 by July 3, 2024. This optimism is supported by positive market sentiment, reflected in technical indicators. Bullish sentiment suggests that investors are confident in Bitcoin’s upward trajectory.
Additionally, Fear and Greed Index, which currently stands at 73 (Greed), signals that market participants are becoming more willing to invest, potentially pushing the price further. This level of the index indicates a high level of confidence in the market and may be a sign of lasting price increases if the sentiment continues.
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 were profitable. Price volatility of 4.45% suggests that while there is significant movement, it remains within the moderate range typical of an dynamic but not too volatile market.
The combination of these factors – positive sentiment, high Greed Index and relatively controlled volatility – paints a picture of a market poised for further growth, assuming no significant external shocks or negative news impact the cryptocurrency landscape.
Featured image from pngtree, chart from TradingView
