Regardless of the Bitcoin decline under the $70,000 worth mark, a crypto analyst nonetheless maintains an optimistic outlook for the pioneer cryptocurrency, predicting that the worth of Bitcoin could reach its top soon.
Analyst Says Bitcoin’s High Is $150,000
On June 2, crypto analyst, Peter Brandt launched a blog post predicting Bitcoin’s top within the present bull cycle. Based on Brandt, the worth of Bitcoin is anticipated to witness an exponential surge between the vary of $130,000 to $150,000.
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Brandt foresees Bitcoin’s peak to happen in 2025 between late August and early September. The analyst has based mostly his predictions on the cryptocurrency’s previous halving dates, highlighting that this cyclical occasion tends to repeatedly current an “virtually good symmetry inside previous bull market cycles.”
The Bitcoin halving is a four-year cycle occasion which cuts mining rewards by half, thereby lowering provide and potentially driving up the price on account of elevated shortage and heightened demand for the cryptocurrency.
Brandt has advised a potential correlation
between Bitcoin’s bull runs up to now with the onset of its halving cycle, emphasizing that following every halving 12 months, Bitcoin has witnessed a surge to new all-time highs. Extra particularly, he identified that the variety of weeks from Bitcoin’s market bottom to the halving dates was practically the identical length because the halving dates to the following bull market peak.
In his weblog submit, Brandt shared a worth chart depicting Bitcoin’s worth actions from 2010 to 2025, highlighting the cryptocurrency’s past performances after the halving events. The crypto analyst emphasised that after the halving occasion in 2012, and 2016, Bitcoin witnessed a major bull run which pushed its worth to new all-time highs.
Probably the most notable bull cycle was seen in 2021 which got here after the Might 2020 halving occasion, with Bitcoin’s worth surging to a earlier all-time excessive of round $69,044. Primarily based on this recurring sample, Brandt’s optimistic prediction sees Bitcoin probably reaching as excessive as $150,000 within the next bull market.
25% Likelihood That Bitcoin Has Topped For This Cycle
Whereas expressing his bullish outlook for Bitcoin, Brandt additionally disclosed a extra pessimistic evaluation of the cryptocurrency’s future price. The analyst has positioned a 25% likelihood that Bitcoin has topped this bull market cycle.
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This evaluation relies on Bitcoin’s huge rally earlier this 12 months, spurred on by the approval and launch of Spot Bitcoin ETFs. In March 2024, the worth of Bitcoin surpassed its earlier 2021 excessive, exceeding $73,000 and formally marking a new all-time high.
Following historical trends, Bitcoin sometimes witnesses a bull rally to new all-time highs after its halving occasion. Nevertheless, towards the norms, the cryptocurrency skilled a peak above $73,000 earlier than its halving event on April 20.
Brandt has disclosed that if Bitcoin fails to succeed in a brand new all-time excessive after its halving occasion, he expects a price decline in direction of $55,000. The analyst predicts {that a} drop under $55,000 will increase the likelihood of “Exponential Decay,” implying a long-term downward pattern for the cryptocurrency.
