Despite Bitcoin decline below the price of $70,000, the cryptocurrency analyst continues to maintain an confident outlook for the pioneering cryptocurrency, predicting that the price Bitcoin may soon reach its peak.
Analyst says Bitcoin peaks at $150,000
On June 2, cryptocurrency analyst Peter Brandt published a report blog post prediction Bitcoin peak in the current bull cycle. According to Brandt, Bitcoin’s price is expected to raise exponentially in the range of $130,000 to $150,000.
Brandt predicts that Bitcoin will peak in 2025, between delayed August and early September. The analyst based his predictions on cryptocurrencies previous halving datesemphasizing that this cyclical event has tended to consistently exhibit “almost perfect symmetry across previous bull cycles.”
Bitcoin halving is a four-year event that cuts mining rewards in half, thereby reducing supply and potentially raising the price due to increased scarcity and increased demand for cryptocurrency.
Brandt suggested a possible correlation
between Bitcoin’s past bull run and its beginning halving cycle, highlighting that after each year of halving, Bitcoin has seen a surge to recent all-time highs. More specifically, he indicated that the number of weeks since The bottom of the Bitcoin market to the halving dates lasted almost as long as the halving dates to the next bull market peak.
In his blog post, Brandt shared a price chart showing Bitcoin price changes from 2010 to 2025, highlighting previous performances after halving events. The cryptocurrency analyst emphasized that after the halving in 2012 and 2016, Bitcoin witnessed a significant boom that pushed its price to recent historical highs.
Most noteworthy bull cycle observed in 2021, which followed the halving in May 2020, when Bitcoin’s price rose to its previous record high of around $69,044. Based on this recurring pattern, Brandt’s confident forecast sees Bitcoin potentially reaching as high as $150,000 next year. another bull market.
25% probability that Bitcoin has peaked this cycle
While expressing his bullish outlook for Bitcoin, Brandt also revealed a more gloomy assessment future cryptocurrency price. The analyst put this as a 25% probability Bitcoin has ended the bull market cycle.
This assessment is based on Bitcoin’s massive rally earlier this year triggered by approval and launch Spot Bitcoin ETF. In March 2024, Bitcoin’s price surpassed its previous 2021 high, surpassing $73,000, officially recent all-time record.
Next historical trends, Bitcoin usually witnesses a bull run to recent historical highs after halving. However, contrary to norms, the cryptocurrency peaked above $73,000 before its launch halving will take place on April 20.
Brandt revealed that if Bitcoin does not reach a recent record high after the halving, he expects it price drop towards $55,000. The analyst predicts that a drop below $55,000 will raise the likelihood of an “exponential decay,” implying a long-term downtrend for the cryptocurrency.
