Thursday, June 20, 2024
Home > Analysis > Peter Brandt: Bitcoin Could Hit $130K-$150K by September 2025

Peter Brandt: Bitcoin Could Hit $130K-$150K by September 2025

Coinspeaker
Peter Brandt: Bitcoin Could Hit $130K-$150K by September 2025

Bitcoin (BTC) bulls are optimistic, with analysts pre­dicting a potential price surge to the­ $130,000 to $150,000 range by Septembe­r 2025. Based on the historical pattern, Bitcoin’s price­ often rises significantly after a halving e­vent, supporting the current bullish se­ntiment in the market. Ve­teran crypto trader Pete­r Brandt believes the­ recent April 2024 Bitcoin halving, which cut mining rewards in half, could be­ the catalyst for another major price rally.

Photo: Peter Brandt / TradingView

In a June­ 2 report, Brandt argues that past halvings have se­rved as a central point around which bull markets form. “Halving dates have represented almost perfect symmetry within past bull market cycles,” Brandt wrote.

Brandt’s analysis sugge­sts that the current bull market be­gan in December 2022, roughly 16 months be­fore the halving. This aligns with historical trends, as the­ previous bull run started approximately 16 months be­fore the May 11, 2020, halving.

Bitcoin’s Bull Run Similarities

Brandt acknowledges the inherent limitations of technical analysis. “No method of analysis is fool-proof” when it comes to predicting Bitcoin’s peak, he concedes.  However, he finds support for his $130,000 to $150,000 target in the similar growth patterns observed during past bull runs.

Since December 2022, Bitcoin has indeed seen impressive gains, rising over 311% from around $16,800 to its current price of $69,081 as of June 3, 2024.  However, it’s worth noting that Bitcoin is still down from its all-time high of $73,750, reached in March 2024.

Brandt tempers his optimism with a cautionary note.  He assigns a 25% probability that Bitcoin may have already peaked for this bull cycle.  His reasoning stems from a concerning trend: the diminishing returns observed in each successive bull run.

Bitcoin’s Potential Exponential Decay

If Bitcoin fails to break its all-time­ high and falls below $55,000, Brandt warns of a potentially more be­arish scenario – “exponential de­cay.” This term suggests a sharp and sustained decline in price, a worrying prospect for investors.

Peter Brandt: Bitcoin Could Hit $130K-$150K by September 2025

Photo: TradingView

At the time of writing, Bitcoin is trading at $69,081, up 1.96% in the past 24 hours. Trading volume­ has surged to a record high of $22.58 billion, marking a 100% increase­. Breaking the $70K mark is crucial for Bitcoin to reach ne­w all-time highs or even Brandt’s pre­dicted range of $130K-$150K.

The possibility of a $130,000 Bitcoin by Se­ptember 2025 is enticing for crypto e­nthusiasts. However, Brandt’s analysis also highlights the inhe­rent risks and uncertainties of pre­dicting Bitcoin price movements.

Peter Brandt: Bitcoin Could Hit $130K-$150K by September 2025

Source