Legendary Trader Peter Brandt Says Bitcoin Could Rally to $150,000 Before Bull Market Ends – Here’s His Timeline

Veteran trader Peter Brandt believes that Bitcoin (BTC) can soar to a high of $150,000 before the bull market comes to a close.

In a new blog post, Brandt says the timeline of each bull cycle has been more or less the same since 2012.

“The number of weeks from the start of each bull market cycle (the low following a 75%-plus decline) to the halving dates has been almost equal to the number of weeks from the halving dates to the subsequent bull market highs.” 

If Bitcoin continues to follow the script, Brandt predicts that the current bull market will expire in August or September 2025.

As for his BTC price target, Brandt says the bull market highs since 2012 can be tracked using an inverted parabolic curve. The seasoned trader shares a chart suggesting that Bitcoin may rise to as high as $150,000 at his predicted bull market expiration date.

BTCUSD 2024 06 02 08 32 31 1 1300x625 1
Source: Peter Brandt

But Brandt warns that his analysis is not foolproof. He also says that there’s a 25% chance that BTC has already printed the top for this cycle.

“Should Bitcoin fail to make a decisive new ATH (all-time high) and decline below $55,000 I will raise the probability of the Exponential Decay.” 

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The trader defines exponential decay as BTC losing about 80% of its exponential energy after each successful bull market.

At time of writing, Bitcoin is trading for $69,083.

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The post Legendary Trader Peter Brandt Says Bitcoin Could Rally to $150,000 Before Bull Market Ends – Here’s His Timeline appeared first on BitcoinLinux.