Bitcoin (BTC) Price Prediction: Peter Brandt's $250k Target by 2025 Raises Hopes of a Bull Run
- Barbara StreisandOriginal
- 2024-10-13 06:04:21745browse
Reacting to Brandt’s analysis, Keith Alan, co-founder of the trading resource Material Indicators, expressed cautious optimism.
Veteran crypto technical analyst Peter Brandt has shared his bullish outlook for Bitcoin (BTC) over the next two years, predicting that the leading digital asset could rally to new all-time highs around $250,000.
In a recent post on TradingView, Brandt analyzed BTC's price movements on a logarithmic chart, suggesting that Bitcoin is currently trading within the fifth wave of a bullish impulse that began forming after bottoming out near $3,200 in December 2018.
According to Brandt's analysis, wave three of the bullish impulse peaked at roughly $65,000 during April 2021, followed by a fourth wave corrective pattern that unfolded over the next seven months. Now, as wave five begins to unfold, Brandt anticipates a strong rally towards $250,000.
“This is the fifth wave up from the $3,200 low,” Brandt stated in his analysis. “It should rally strongly to about $250k over the next two years, give or take six months on the timing. I am not sure about the timing.”
Brandt's technical analysis and market predictions carry substantial influence within the crypto trading community, thanks to his extensive experience as a technical analyst spanning several decades. Notably, his past predictions regarding significant Bitcoin price movements have proven to be accurate.
For instance, Brandt's 2018 prediction that Bitcoin's price would fall to $3,200 ultimately came to fruition, earning him further recognition as one of the market's most astute traders.
If Brandt's latest forecast holds, Bitcoin could be poised for a strong bull run, potentially doubling its current all-time high price over the next two years.
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