Veteran Trader Peter Brandt Predicts Bull Market High For Bitcoin

Veteran trader Peter Brandt has predicted a bull market high for Bitcoin, suggesting that the flagship crypto will rise to $150,000 by 2025. This aligns with a similar prediction that Bernstein analysts made for BTC’s price earlier in the year. This bullish prediction for the crypto comes amid a recent recovery to as high as $58,000, with crypto analysts weighing on whether this is a relief bounce or a bullish reversal.

Peter Brandt Predicts Bitcoin Will Hit $150,000 By 2025

Peter Brandt has predicted that Bitcoin will hit $150,000 by 2025. The accompanying chart he shared in an X post showed that this price would mark the high for BTC in this bull market cycle. Brandt had previously made a similar prediction and alluded to past halving cycles, with his analysis noting how BTC’s price had peaked between 16 to 18 months after every halving event.

It is worth mentioning that the veteran trader’s prediction aligns with those made by other analysts. In March, shortly after BTC’s price hit a new all-time high (ATH) of $73,000, Bernstein analysts said they were convinced that the leading crypto would reach $150,000 by 2025. They cited factors like the halving event, which eventually took place in April, and the success of the Spot Bitcoin ETFs as factors that would propel Bitcoin’s price growth in this bull run.

Fundstrat analyst Tom Lee, also predicted that Bitcoin will reach $150,000, although he stated that BTC will hit this price mark this year. Popular crypto analysts like Mikybull Crypto have also highlighted $150,000 as a price level Bitcoin can reach in this market cycle.

On the other hand, crypto analysts like Justin Bennett have offered a bearish outlook for BTC’s price and suggested that the crypto might not reach $150,000 as predicted by these Bitcoin bulls. In a recent X post, he stated that contrary to what many think, the halving cycles don’t trigger bull runs and that BTC’s price is driven by economic cycles.

Popular crypto analyst Ali Martinez, widely known as a Bitcoin bull, also recently raised the possibility of Bitcoin dropping to as low as $31,500 soon enough. He explained this could happen if Bitcoin drops below its Realized Price-to-Liveliness Ratio at $51,600.

Historically, when #Bitcoin falls below the Realized Price-to-Liveliness Ratio, now at $51,600, it often drops further to its Realized Price — currently at $31,500!

Factors That Could Propel Bitcoin To $150,000

In addition to the halving cycle being a catalyst for BTC’s rise to $150,000 in this bull market like Peter Brandt predicts, other factors could propel the crypto to this price level. One is the US presidential election coming up in November. Crypto has become one of the major talking points ahead of the election as both Donald Trump and Kamala Harris try to win over crypto voters.

For now, Donald Trump seems more popular among the crypto electorates as the former US President has clearly stated crypto policies he plans to implement if elected again as President. This is why analysts like Standard Chartered’s head of digital assets research, Geoff Kendrick, have highlighted a Trump victory as being very bullish for BTC. Kendrick had in June boldly predicted that Bitcoin would hit $150,000 by year-end if Trump emerges as the next US president. Bernstein analysts’ Bitcoin prediction is that the crypto would rise to $90,000 if Donald Trump wins.

Rate cuts by the US Federal Reserve are another factor that could propel Bitcoin to reach $150,000. BTC’s price continues to remain stagnant primarily due to a lack of liquidity in its ecosystem. However, quantitative easing (QE) by the Fed could solve this issue since investors and traders would be more confident about investing in a risk asset like Bitcoin.

Relief Bounce Or Bullish Reversal For Bitcoin?

Bitcoin has climbed to as high as $58,000 in the last 24 hours, suggesting a bullish reversal for the leading crypto might be on the horizon. However, crypto analyst Jesse Olson has suggested that BTC’s price is still in a downtrend and that the recent Bitcoin price recovery is simply a relief bounce. In an X post, Olson remarked that BTC has recorded a second consecutive Heikin Ashi weekly candle with no week to the upside, suggesting that the downside trend will likely continue.

BREAKING: 2nd consecutive #Bitcoin Heikin Ashi weekly candle with no wick to the upside suggesting the trend to the downside continues. https://t.co/d6CljNj9Us pic.twitter.com/6YmBGhS0Yt

— Jesse Olson (@JesseOlson) September 9, 2024

BTC price is currently trading at around $57,000 while its trading volume is up over 47% in the last 24 hours.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, Boluwatife is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.