Seasoned dealer Peter Brandt believes there’s a one in 4 likelihood that Bitcoin (BTC) will high out at $160,000 this cycle.
Brandt tells his 724,700 followers on the social media platform X that he expects the present Bitcoin bull market to endure till This autumn of 2025.
“Notice that I assigned a 25% chance to my evaluation. I give extra credence to a report I issued in February. Here’s a chart from that evaluation – projecting a bull market till Sep/Oct 2025.”
Based mostly on the dealer’s chart, he appears to counsel that it took BTC 525 days from its November 2022 backside at round $16,000 to breach $50,000. Utilizing that quantity, Brandt says Bitcoin has 525 days from the $50,000 breakout to succeed in its $160,000 peak.
The $160,000 Bitcoin worth goal seems to be a conservative projection. In February, the veteran dealer predicted that Bitcoin would rally to as excessive as $200,000 by September 2025. He says the prediction stays legitimate so long as Bitcoin stays above $50,000.
At time of writing, BTC is value $63,776.
No matter the place Bitcoin crescendoes, Brandt highlights that we’re doubtless properly previous the early days of the BTC bull market.
“My cash remains to be positioned on a state of affairs whereby the halving was the midway level throughout the bull cycle, however I need to be sure all the time that warning and danger administration play key roles.”
The dealer additionally reveals that he has been holding on to a BTC stack for about eight years.
“Some Bitcoin since 2016. Bodily Gold for 40 years.”
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