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Peter Brandt predicts Bitcoin could hit $135K by 2025

Peter Brandt predicts Bitcoin could hit $135K by 2025

GrafaGrafa2024/10/10 03:45
By:Liezl Gambe

Experienced trader Peter Brandt recently predicted that Bitcoin (CRYPTO:BTC) could reach $135,000 by August or September 2025. 

However, he cautioned that for this forecast to remain valid, Bitcoin must stay above a critical support level of $48,000. 

If it drops below this threshold, Brandt’s analysis would no longer apply.

Brandt has built a reputation for his technical analysis of Bitcoin, and he shared his latest insights on October 9. 

Back in July, he expressed optimism about Bitcoin’s performance, noting that market conditions seemed favorable for bulls. 

His latest projection is based on a technical pattern he has termed the "Three Blind Mice and a Piece of Cheese" pattern, suggesting that Bitcoin could continue its current trend, despite recent downward movement.

Brandt’s forecast is rooted in his analysis of Bitcoin’s halving cycles, which occur roughly every four years. 

He pointed out that Bitcoin’s most significant price gains tend to happen after these halving events. 

With the next halving scheduled for March 2024, Brandt expects substantial price increases afterward, driven by limited supply and rising demand.

He remarked, “Huge gains come in the post-halving cycles. 

The period since [March] 2024 appears as an insignificant, brief pause in the ongoing trend. 

My target is $135,000 in Aug/Sep 2025. 

A drop below $48K would negate my chart analysis.”

Brandt’s emphasis on the $48,000 support level signals its importance in determining Bitcoin’s future price trajectory. 

While short-term fluctuations may occur after the 2024 halving, Brandt remains confident in Bitcoin’s long-term potential if this crucial level holds. 

Investors will be closely monitoring the market to see if his bullish forecast comes to fruition.

At press time, the Bitcoin price was $60,766.13.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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