Peter Brandt’s Bitcoin Prediction: The $150,000 Mark

Peter Brandt is a long-time trader who recently released a book. blog This post highlights how Bitcoin’s (BTC), halves have occurred at the half-way points of previous bull markets cycles. Brandt states, ‘The number of week from each Bull Market Cycle (the Low following a decline of 75% or more) until the Halving Dates has almost been equal to that of the weeks between the Halving Dates and the bull market’s subsequent highs.‘

He also showed a graph to help visualize his point.

Also Read: Senator Says Bitcoin Will be Vital to US Economy Post-Election

Brandt also predicts, using the analysis above, that Bitcoin (BTC), in a little more than a year, will be worth between $130,000 and $150,000. However, the trader notes, ‘It is impossible to be 100% sure that any method of analysis will work.‘ Hence, his prediction could be wrong. Nonetheless, ‘The inverted curve of a parabolic graph is remarkably similar to the highs reached by previous bull markets.‘

When will Bitcoin BTC reclaim the all-time highest?

BTC surpassed its all-time peak of $73,737 at the end of March, 2024. The US Securities and Exchange Commission (SEC) approved 11 BTC spot ETFs. This fueled the surge. BTC is down 6.6% in price since March’s peak. Many analysts believe that BTC will soon regain its previous high despite the correction.

Also Read: Goldman Sachs Calls Bitcoin ETF Approval a ‘Psychological Turning Point’

CoinCodex predicts that Bitcoin (BTC), could reach $77,230 by June 6, 2024. The platform also predicts that BTC will continue to rise throughout the entire month. CoinCodex anticipates BTC hitting $89 066 by the month’s end. A 29% growth would be expected if BTC reaches $89 066 from its current level.

Changelly Bitcoin (BTC), too, is predicted to surge in value over the next couple of weeks. Platform predicts BTC will reach a new record high of $76,091 by June 5, 2024. BTC is also predicted to reach an all-time high of $87.730 by June 28, 2024, according to the platform.