- Peter Brandt’s chart shows BTC could possibly reach $150K by late 2025.
- Despite recent volatility, BTC price rebounded from $52K to $58K, indicating a recovery in the coming months.
- BTC path to $60K remains doubtful, with a 3.5% decline in September, highlighting the challenges ahead for bullish traders.
In an analysis, trader Peter Brandt has renewed positiveness in the Bitcoin community by forecasting a price surge for the leading cryptocurrency. Despite recent market downturns, Brandt’s latest chart shows that Bitcoin could still be on track to reach a curved peak of approximately $150,000 by late 2025. This prediction aligns with his previous outlook, which anticipated a similar peak during the ongoing bullish cycle.
Bitcoin’s Market Movements
Changes have marked BTC’s market performance. On September 6, the digital asset price fell to $52,000, indicating a bearish move. However, Bitcoin bounced back, climbing to $58,070 on August 9, signaling a recovery. Even with this rebound, the market remains unclear, with BTC still struggling to read at $60,000.
The chart indicates that Bitcoin is currently in a bullish cycle, with a potential price target of $73,734 USD. Historical analysis shows repeated patterns of consolidation followed by significant price increases, with recent trends reflecting a similar trajectory. The RSI is at 47.57, suggesting the market is neither overbought nor oversold, and the relatively low trading volumes indicate a stable yet less frenzied market.
Peter Brandt on Bitcoin’s Possible Bullish Path
A descending triangle pattern suggests potential short-term consolidation before further upward movement. The data points to continued bullish momentum, with a possible approach to the previous ATH.
The gradual improvement in market has led some analysts to revisit their bullish predictions. However, Brandt remains cautious, rejecting the notion that Bitcoin is forming a bullish, inversed head and shoulders pattern, a common technical indicator of an impending upward trend. Nevertheless, he acknowledges that other chart formations could provide reasons for positivity.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
