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Top trader Peter Brandt predicts how high the price of Bitcoin (BTC) could go this cycle
Alex Dovbnja
Famous trader Peter Brandt believes Bitcoin price could reach $150,000 during this market cycle
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The famous trader Peter Brandt has expected that the price of Bitcoin could potentially reach a whopping $150,000 during the ongoing bull cycle.
Brandt noted that the highs of Bitcoin’s previous two cycles align well with an inverted parabolic curve. He expects the flagship cryptocurrency to reach the aforementioned price target if this trend continues.
At the same time, Brandt warned that his analysis method is not “foolproof,” which is why traders should exercise caution.
Brandt also warned that there is a 25% chance that the leading cryptocurrency has already reached the peak of this cycle. “Should Bitcoin fail to make a new decisive record and fall below $55,000, I will increase the probability of exponential decay,” Brandt added.
As of this writing, Bitcoin is trading at $67,528, having lost just 0.2% over the past 24 hours.
The leading cryptocurrency is down more than 8% from its current all-time high of $73,737.
Parallels of 2017
According to a recent send According to cryptocurrency trader Jake Wujastyk, Bitcoin’s current price movement is eerily similar to that of early 2017. He suggested that there could be much greater upside potential.
As reported by U.Today, permabull Tom Lee said that the price of the leading cryptocurrency could potentially reach $150,000 this year.
In 2025, the leading cryptocurrency could they end up overcoming $250,000.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.