Regardless of the Bitcoin decline beneath the $70,000 price mark, a crypto analyst nonetheless maintains an optimistic outlook for the pioneer cryptocurrency, predicting that the price of Bitcoin may attain its high quickly.
Analyst Says Bitcoin’s Prime Is $150,000
On June 2, crypto analyst, Peter Brandt launched a weblog publish predicting Bitcoin’s high within the present bull cycle. In response to Brandt, the price of Bitcoin is predicted to witness an exponential surge between the vary of $130,000 to $150,000.
Brandt foresees Bitcoin’s peak to happen in 2025 between late August and early September. The analyst has primarily based his predictions on the cryptocurrency’s earlier halving dates, highlighting that this cyclical occasion tends to repeatedly current an “almost perfect symmetry within past bull market cycles.”
The Bitcoin halving is a four-year cycle occasion which cuts mining rewards by half, thereby decreasing provide and doubtlessly driving up the price resulting from 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 backside to the halving dates was almost the identical period because the halving dates to the subsequent bull market peak.
In his weblog publish, Brandt shared a price chart depicting Bitcoin’s price actions from 2010 to 2025, highlighting the cryptocurrency’s previous performances after the halving occasions. The crypto analyst emphasised that after the halving occasion in 2012, and 2016, Bitcoin witnessed a major bull run which pushed its price 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 price surging to a earlier all-time excessive of round $69,044. Primarily based on this recurring sample, Brandt’s optimistic prediction sees Bitcoin doubtlessly reaching as excessive as $150,000 within the subsequent bull market.
25% Chance 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% chance that Bitcoin has topped this bull market cycle.
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 price of Bitcoin surpassed its earlier 2021 excessive, exceeding $73,000 and formally marking a new all-time excessive.
Following historic tendencies, 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 occasion 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 beneath $55,000 will increase the chance of “Exponential Decay,” implying a long-term downward development for the cryptocurrency.
