In spite of the Bitcoin drop below the $70,000 price point, a crypto analyst still maintains an optimistic view on the pioneering cryptocurrency, predicting that the price of Bitcoin could reach its peak soon.
Analyst Says Bitcoin Tops at $150,000
On June 2, crypto analyst Peter Brandt published a blog post to predict Bitcoin’s top in the current bull cycle. According to Brandt, the price of Bitcoin is expected to witness an exponential rise between $130,000 and $150,000.
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Brandt expects Bitcoin’s peak to occur between late August and early September in 2025. The analyst has based his predictions on the cryptocurrencies previous halving dateshighlighting that this cyclical event tends to continually exhibit “near-perfect symmetry within previous bull market cycles.”
Bitcoin’s halving is a four-year cycle event where mining rewards are cut by half, reducing supply may drive up the price due to the increased scarcity and increased demand for the cryptocurrency.
Brandt has suggested a possible connection
between Bitcoin’s past bull runs and its beginnings halving cycle, highlighting that Bitcoin has witnessed a surge to new all-time highs after each halving year. More specifically, he pointed out that the number of weeks out The bottom of the Bitcoin market to the halving dates lasted almost as long as the halving dates to the next bull market peak.
In his blog post, Brandt shared a price chart showing Bitcoin’s price movements from 2010 to 2025, highlighting the past performance after the halving events. The crypto analyst highlighted that after the halving in 2012 and 2016, Bitcoin witnessed a significant bull run that pushed the price to new all-time highs.
The most striking bull cycle was seen in 2021, following the May 2020 halving, which saw Bitcoin’s price rise to a previous all-time high of around $69,044. Based on this recurring pattern, Brandt’s optimistic prediction is that Bitcoin may reach a value of $150,000 in the coming years. next bull market.
25% probability that Bitcoin has reached this cycle
While expressing his bullish outlook for Bitcoin, Brandt also announced a more pessimistic assessment the future price of the cryptocurrency. The analyst has estimated a probability of 25% Bitcoin has surpassed this bull market cycle.
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This review is based on Bitcoin’s massive rally earlier this year, spurred by the adoption and launch of Discover Bitcoin ETFs. In March 2024, Bitcoin’s price surpassed the previous high of 2021, surpassing $73,000. new all-time record.
As a sequel to historical trendsBitcoin typically witnesses a bull rally to new all-time highs after the halving. However, against norms, the cryptocurrency previously experienced a peak above $73,000 halving event on April 20.
Brandt has revealed that if Bitcoin fails to reach a new all-time high after the halving, he will make a price drop towards $55,000. The analyst predicts that a drop below $55,000 will increase the likelihood of ‘exponential decay’, implying a long-term downward trend for the cryptocurrency.