Despite the recent decline in the price of Bitcoin below $70,000, crypto analyst Peter Brandt maintains an optimistic outlook for the pioneer cryptocurrency. Brandt predicts that Bitcoin could reach its peak soon, with the price expected to witness an exponential surge between the range of $130,000 to $150,000. He foresees Bitcoin’s peak to occur in 2025 between late August and early September. Brandt’s predictions are based on the cryptocurrency’s previous halving dates, showcasing an “almost perfect symmetry within past bull market cycles.”
The Bitcoin halving is a four-year cycle event that cuts mining rewards by half, reducing supply and potentially driving up the price due to increased scarcity and heightened demand for the cryptocurrency. Brandt has analyzed the correlations between Bitcoin’s bull runs and halving events in the past, noting that following each halving year, Bitcoin has surged to new all-time highs. There is a recurring pattern where the number of weeks from Bitcoin’s market bottom to the halving dates is nearly the same duration as the halving dates to the next bull market peak.
In his blog post, Brandt shared a price chart depicting Bitcoin’s price movements from 2010 to 2025, showcasing the cryptocurrency’s past performances after halving events. After the halving events in 2012 and 2016, Bitcoin witnessed significant bull runs that pushed its price to new all-time highs. The most notable bull cycle was seen in 2021, following the May 2020 halving event, where Bitcoin’s price surged to a previous all-time high of around $69,044. Based on this historical data, Brandt predicts Bitcoin potentially reaching as high as $150,000 in the next bull market.
While expressing his bullish outlook for Bitcoin, Brandt also disclosed a more pessimistic assessment of the cryptocurrency’s future price. The analyst has assigned a 25% probability that Bitcoin has topped this bull market cycle. This assessment is based on Bitcoin’s massive rally earlier this year, driven by the approval and launch of Spot Bitcoin ETFs. In March 2024, the price of Bitcoin surpassed its previous 2021 high, exceeding $73,000 and setting a new all-time high. Brandt mentioned that if Bitcoin fails to reach a new all-time high after its halving event, he expects a price decline towards $55,000.
Overall, Brandt’s analysis and predictions provide a nuanced perspective on Bitcoin’s future performance. While he remains optimistic about the cryptocurrency reaching new highs based on historical patterns, he also acknowledges the possibility of a price decline if certain conditions are not met. As the crypto market continues to evolve, only time will tell whether Brandt’s forecasts will come to fruition.
