September Surprise? Bitcoin Could Hit $150,000 If History Repeats – Veteran Trader

Share

Table of Contents

[[{“value”:”

Crypto investors are eagerly awaiting the next chapter in Bitcoin’s story, and this veteran trader just offered a potential plot twist.

In his analysis, Peter Brandt suggests Bitcoin could gallop towards a record-breaking peak of $130,000 to $150,000 by late summer 2025.

Brandt’s forecast hinges on a historical phenomenon known as the Bitcoin halving. Every four years, the number of Bitcoins awarded to miners gets cut in half, restricting supply and theoretically pushing prices upwards.

25% Chance Bitcoin Has Already Hit Its Peak

But Brandt examines deeper – he argues that past halving dates have coincided roughly with the midpoint of bull market cycles. With the most recent halving happening in April 2024, his analysis suggests a peak 16-18 months later, landing us squarely in that August-September 2025 window.

Brandt himself acknowledges the limitations of his prediction. He warns that “no method of analysis is fool-proof,” adding a cautious 25% chance that Bitcoin might have already hit its peak for this cycle. This raises a critical question – are we already past the stampede and staring down a crypto winter?

Underlying Factors For Brandt’s Analysis

There are additional factors that temper Brandt’s optimism. One is the diminishing returns of each bull cycle. While historical peaks show impressive growth, the gains seem to be moderating. The last peak fell short of its predecessor, and if this trend continues, there’s a chance we might not see a six-figure Bitcoin this time around.

Additionally, a price drop below $55,000 could signal a weakening bull and a potential correction, sending shivers down the spines of even the most dedicated hodlers (holders of cryptocurrency for the long term).

Bitcoin Price Forecast

Meanwhile, the current Bitcoin price prediction indicates a strong bullish trend, projecting a substantial increase of 28% to a price of $88,600 by July 3, 2024. This optimism is supported by positive market sentiment, as reflected by technical indicators. A Bullish sentiment suggests that investors are confident in Bitcoin’s upward trajectory.

Additionally, the Fear & Greed Index, which currently stands at 73 (Greed), signals that market participants are becoming more eager to invest, potentially driving the price further up. This index level indicates a high level of market confidence and could be a precursor to sustained price increases if the sentiment persists.

Over the last 30 days, Bitcoin’s performance has shown mixed results with a 47% success rate in recording green days, indicating almost half the days were profitable. The price volatility at 4.45% suggests that while there is significant movement, it remains within a moderate range, characteristic of an active but not overly volatile market.

The combination of these factors—positive sentiment, a high Greed index, and relatively controlled volatility—paints a picture of a market poised for continued growth, assuming no significant external shocks or negative news impacts the cryptocurrency landscape.

Featured image from Pngtree, chart from TradingView

“}]]  Bitcoinist.com Read More 

​ 

Related Blog Posts

Leave a Comment

Your email address will not be published. Required fields are marked *

Please enter CoinGecko Free Api Key to get this plugin works.

ETH, BNB, BUSD, USDT: 0xE8759FFb72D41c6b94fbbE75d487E0AAC66a2151

Receive the latest news and updates
Subscribe To Our Weekly Newsletter

Get notified about new airdrops and articles