If past bull markets are any indication, Bitcoin could potentially reach its all-time high for the current bull cycle in 2025, according to renowned analyst Peter Brandt.
Brandt, known for his expertise in chart pattern analysis, predicts that Bitcoin’s peak for this bull cycle will likely occur in 2025 rather than 2024, based on historical data from previous bull markets.
His analysis revolves around the concept of halvings, where mining rewards are halved every four years. In a recent blog post, Brandt highlights the symmetry of these halving events in past bull market cycles, suggesting a potential peak for Bitcoin in late August or early September 2025.
Looking at potential price movements, Brandt notes a correlation between previous bull market peaks and an inverted parabolic curve. If this trend continues, Bitcoin could reach a high between $130,000 and $150,000 in the upcoming bull cycle.
Despite his analysis, Brandt remains cautious, acknowledging the unpredictability of the market. While he favors the 2025 prediction, he also assigns a 25% probability that Bitcoin may have already peaked in March when it surpassed $70,000.
Brandt warns that if Bitcoin fails to achieve a new high and drops below $55,000, there is a possibility of an “Exponential Decay” scenario. As of the latest data from CoinGecko, Bitcoin is currently trading at $69,290 with minimal volatility in the $65,000 to $70,000 range.
This stability in price has led some experts, such as CryptoQuant’s Ki Young Ju, to draw parallels between the current market activity and the mid-2020 timeframe when Bitcoin was trading at $10,000.
In a recent event, Cathie Wood expressed her belief that Bitcoin is “unstoppable,” further adding to the positive sentiment surrounding the cryptocurrency market.