Renowned market analyst Peter Brandt has predicted a significant upsurge in Bitcoin’s price should it breach a critical price barrier of around $150,000.
In a Sunday post, Brandt, known for his accurate forecasts, including the parabolic bull run of 2017, based his analysis on the historical symmetry observed around Bitcoin’s halving events, where mining rewards are cut in half.
Notably, these halvings have historically marked turning points for Bitcoin’s price trajectory. The pundit highlighted the mirroring effect between the pre-halving and post-halving periods, suggesting a potential peak for price in the fall for the next bull run.
“The number of weeks from the start of each bull market cycle (the low following a 75%-plus decline) to the Halving dates has been almost equal to the number of weeks from the Halving dates to the subsequent bull market highs, as shown on the chart herein. If this sequence continues, the next bull market cycle high should occur in late Aug/early Sep 2025” he wrote.
In terms of price targets, Brandt utilized an inverted parabolic curve to estimate potential highs, indicating a range of $130,000 to $150,000 for the upcoming bull cycle.
Commenting on the possibility of a “moon shot” scenario, Brandt highlighted the significance of breaching the key upper boundary. “If we blow through the top of the upper parabolic boundary,” he stated, “then BTC really does a moon shot.”
Notably, Brandt’s latest forecast follows his recent prediction of a potential 230% surge for Bitcoin against Gold within the next 12-18 months.
Other analysts are chiming in to add to the bullish sentiment. Ali Martinez observed that Bitcoin is currently hovering around a key price level, suggesting a potential rise if this support holds.
“Bitcoin is presently hovering around the +0.5σ pricing band at $66,800. Should $BTC sustain this level, it’s likely to ascend, testing the 1.0σ pricing band at $79,600.” Wrote Martinez.
Cryptoquant analyst Axel Adler also pointed to a rise in Bitcoin transfers to derivatives exchanges, indicating that large investors are positioning themselves for a potential bull market.
”An increase in the volume of transfers from major exchanges to derivatives exchanges indicates that large investors are taking on leveraged positions using Bitcoin as collateral, which increases the likelihood of a bullish market.”
Meanwhile, amidst these observations, Bitcoin opened strongly on Monday after bouncing off minor support at $67,470, following a relatively quiet period. The cryptocurrency traded at $69,404 at press time, marking a 2.23% increase over the past 24 hours. Its trading volume also saw a significant uptick, rising by 114% during the same period.
Notably, analysts from Into the Block attributed this surge to a substantial demand zone between $66,900 and $68,900, where over two million addresses have accumulated a total of 1.1 million BTC worth about $76.2 billion.
