Buckle Up: Bitcoin Set To Smash $150,000 Mark, Says Trading Guru – Here’s When
07 Marzo 2024 - 2:00AM
NEWSBTC
Peter Brandt, a respected figure in the trading community, has
recently shared his insights on the Bitcoin future price potential.
Through a post on X, Brandt ignited discussions within the crypto
community by commenting on Bitcoin’s recent attainment of a new
all-time high (ATH). More interestingly, he proposed when Bitcoin
might scale new historic price heights. Related Reading: Bitcoin
Price Crashes After New ATH, Are Dips Supported At $60K? Drawing
from his experience in market analysis, Brandt speculated that
Bitcoin could reach a price mark of $150,000 per BTC by October
2025, a prediction based on an in-depth analysis of Bitcoin’s price
behaviour surrounding its halving cycles. When Bitcoin has a sudden
and sharp shake-out decline, the market is just winking at you
$BTChttps://t.co/Qip2tQ5h44 pic.twitter.com/KSbGYvTFlW — Peter
Brandt (@PeterLBrandt) March 6, 2024 A Bullish Bitcoin Horizon
Brandt’s analysis, published in a document, delves into Bitcoin’s
price patterns before and after its previous halvings. He suggests
that, should the bull trend post-April 2024 mirror the pace
observed since the November 2022 low, approaching the $150,000
milestone could be a likely scenario. However, Brandt cautions that
the trajectory of post-halving price advances has historically been
“steeper” than their pre-halving counterparts. Brandt noted: If the
pace of the bull trend after Apr 2024 is at similar pace to the
bull trend since the Nov 2022 low, then the high in Oct 2025 could
be around $150,000. However, the post-halving advances during
previous bull cycles have been much steeper than the pre-halving
advances. Aside from Brandt’s predictions, the bullish sentiment on
Bitcoin’s price is gaining momentum among various market analysts.
Insights from Deribit and the analytics company GenesisVol suggest
a potential rise of as much as 20.8% in Bitcoin’s price over the
next month. These analyses suggest the possibility of Bitcoin
surpassing the $80,000 threshold, with more cautious predictions
still expecting it to exceed $70,000. This optimism follows a
period of notable performance for Bitcoin. So far, Bitcoin has seen
a minor 0.5% dip in the last 24 hours after dropping drastically
from its newly established ATH of $69,328. However, despite this
decline, the asset has been up nearly 10% over the past week,
maintaining its market capitalization above the $1 trillion mark.
Market Corrections: A Natural Part Of The Crypto Journey Commenting
on the dramatic drop in BTC after creating a new ATH, Alex Thorn,
Head of Research at Galaxy Digital, provided insights, emphasizing
that market corrections are common even within bull markets.
Related Reading: Bitcoin Crash Or Surge? Fed’s BTFP Program Ends In
5 Days Thorn also highlighted the potential benefits of market
consolidation following significant gains, suggesting that a
pullback could be conducive to Bitcoin’s long-term health. by my
count, #bitcoin had 13 corrections of 10% or more between the mar.
12, 2020 covid-low ($3858) and the apr. 14, 2021 ATH ($64,899)
pic.twitter.com/SovuXHzS5p — Alex Thorn (@intangiblecoins) March 5,
2024 Featured image from Unsplash, Chart from TradingView
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