Old school commodities trader Peter Brandt tweeted to comment on the new all-time high recently reached by the global flagship cryptocurrency Bitcoin.
Old school commodities trader Peter Brandt tweeted to comment on the new all-time high recently reached by the global flagship cryptocurrency Bitcoin.
He has also named a possible date when Bitcoin could reach a new all-time price peak next time.
Peter Brandt’s message on Bitcoin: probably $150,000 next October
Experienced trader Brandt tweeted that “Bitcoin has a sudden sharp drop, the market is just winking at it.”
He attached a link to his post on Bitcoin halving price cycles published on his website. Based on data on Bitcoin price behavior before and after previous halvings, Brandt assumed that a likely scenario is that the world’s leading cryptocurrency will reach a new all-time high in October 2025, and it will be $150,000 per BTC.
It will happen, according to the document, as long as “the pace of the uptrend after April 2024 is similar to the pace of the uptrend from the November 2022 low.”
However, he added that “post-halving advances during previous bull cycles have been much more pronounced than pre-halving advances.” This makes the prediction of Bitcoin reaching $150,000 by October next year not so definitive. Furthermore, Brandt stated at the beginning of the “Bull Cycle 2022 to 2025” section that “projecting past price behavior into the future is highly speculative.”
Brandt says his BTC bull market prediction was 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 on a tweet posted in mid-June 2022, where he said that he expects the Bitcoin market to experience a major uptrend in early 2024. That was the second part of the tweet. The first claimed that Bitcoin would not reach a new all-time high until early 2024. But as this milestone of $69,200 was passed on Tuesday, the day after sharing that 2022 tweet, this part of Brandt’s prediction has also come true. .
On Tuesday, immediately after reaching the new all-time price peak, Bitcoin plunged more than 14% to bottom at $59,270. It rebounded from that level and rose again to grow 13% and return to $67,302. Now, Bitcoin is changing hands at $66,803.
