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Old-school commodity trader Peter Brandt has tweeted to comment on the new all-time high recently achieved by global flagship cryptocurrency Bitcoin.
He has also named a possible date when Bitcoin could reach a new historic price peak next time.
Peter Brandt's message on Bitcoin - $150,000 next October likely
Seasoned trader Brandt has tweeted that “Bitcoin has a sudden and sharp shake-out decline, the market is just winking at you.”
He attached a link to his publication on Bitcoin halving price cycles published on his website. Based on data about Bitcoin price behavior before and after previous halvings, Brandt assumed that a likely scenario is the world’s top cryptocurrency reaching a new all-time high in October 2025, and it will be $150,000 per BTC.
It will happen, per the document, provided that “the pace of the bull trend after Apr 2024 is at similar pace to the bull trend since the Nov 2022 low.”
However, he added that “the post-halving advances during previous bull cycles have been much steeper than the pre-halving advances.” This makes the prediction of Bitcoin reaching $150,000 in October next year not so definite. Besides, Brandt stated at the very start of the “2022 to 2025 bull cycle” section that “projecting past price behavior into the future is highly speculative.”
Brandt says his BTC bull market prediction confirmed
Earlier this week, Peter Brandt, the legendary trader in professional circles, tweeted that he sees his prediction about the Bitcoin bull market starting this year confirmed.
The trader commented in a tweet published in mid-June 2022, where he said that he expects the Bitcoin market to see a big uptrend in early 2024. That was the second part of the tweet. The first one stated that Bitcoin would not reach a new all-time high until early 2024. But since this milestone of $69,200 was surpassed on Tuesday, the next day after he shared that 2022 tweet, this part of Brandt’s prediction has also come true.
On Tuesday, immediately after reaching the new historic price peak, Bitcoin collapsed by more than 14% to hit the bottom at $59,270. It bounced from that level and went up again to grow 13% and return to $67,302. Now, Bitcoin is changing hands at $66,803.
Arman Shirinyan
Mushumir Butt
