Peter Brandt Sets Bitcoin Price Target, Reveals Timeline for Cycle Top

Key Insights:

• Peter Brandt predicts Bitcoin price cycle top to happen in September.
• Traders are positive for a parabolic blow-off top towards $200,000.
• If Bitcoin matches previous percentage gains to cycle peaks, BTC could reach $340,000.

Veteran trader and analyst Peter Brandt believes Bitcoin will reach the cycle top between September 15 and 28, where it will trade at around $145,000. He revealed his targets on X, where he based his prediction on previous market cycles,  all of which took place within 75 weeks of a previous top.

As of this writing, Bitcoin price was down after a robust rally on Monday, when it crossed the $121k mark. Despite having dropped by more than 5 percent over the last three weeks, analysts and traders are convinced the cryptocurrency is in its final stage before breaking out towards $200,000.

Another Popular trader and X commentator, Merlijn The Trader, corroborated Brandt’s perspective. He has shared an interesting Bitcoin price chart that suggests the largest digital asset to head for a parabolic blow-off top, potentially hitting $180,000.

According to the trader, Bitcoin is in its final stage of preparing for a life-changing movement which will see it shoot to astronomical gains.

Peter Brandt’s Bitcoin Price Prediction

Peter Brandt reposted a chart by JDK Analysis that interpreted a clear trend from bearish market lows to cycle peaks. The analysis suggested Bitcoin price is gearing up for a massive breakout by the end of 2028.

Meanwhile, Brandt stated that a breakout could happen soon, considering that top cycles have previously occurred within 75 weeks. By calculating 75 weeks from the previous cycle top, the trader and analyst forecasted that the next peak could take shape between September 18 and September 28.

In addition, the Bitcoin power curve also holds the same massive narrative of a bullish breakout to the $1 million price zones, with the first target at $800,000.

New Bitcoin Addresses Reach New Yearly High

The total number of new Bitcoin addresses created per day reached its highest in a year, totalling 364,126, said Ali_charts on X.

At the same time, the uptick in new BTC addresses and Bitcoin’s rise to $119,000, after nearing its previous all-time high, has boosted confidence. It also coincides with an overall presence of long-term holders leading the latest on-chain activity.

As per on-chain data by Glassnode,  the current bullish wave is dominated by long-term investors, unlike the November-December 2024 wave, which had a large presence of short-term holders looking for short-term gains.

Such on-chain figures and network growth, suggested by an increase in new addresses, indicate fresh retail participation and the potential for an upsurge to a new all-time high.

Future Outlook for BTC Price

Despite the astronomical rise to $122,000 recently, Bitcoin price still has a long way to go in percentage terms for the rally to match previous bull market cycles.

The 2019 to 2021 cycle recorded a 2,089% increase in the 2021 ATH. If the largest cryptocurrency matches a similar gain, the price could go as high as $340,000.

As of now, the price of BTC is only around 700% up from its 2022 bear market low of $15,600.

Interestingly, a massive breakout to $340,000 will make history as the cycle with the highest return from a previous cycle in the 16 years of Bitcoin’s existence.