As the cryptocurrency market continues to evolve, Bitcoin remains at the forefront of investor interest. This is supported by its recent price performance, surpassing $60,000.
In a detailed analysis, trading veteran Peter Brandt has provided a compelling forecast for Bitcoin’s price trajectory. He linked its potential to the cryptocurrency’s halving events. This is a mechanism that cuts the reward for mining new blocks in half. Consequently, it reduces the supply of new BTC and often triggering a price surge.
Bitcoin Price Prediction: Is $400,000 Next?
Brandt’s methodical examination of Bitcoin’s past bull cycles in relation to its halving dates uncovers a pattern of significant growth phases that align with these events. Through an analysis that spans over a decade, Brandt highlighted the predictive power of these cycles. These suggest an optimistic future for Bitcoin’s price.
The trading expert pointed to the historical symmetry in the duration of bull trends before and after each halving. With the next halving scheduled for April 2024, Brandt’s projections suggest a bullish outlook for Bitcoin.
According to his analysis, if the post-halving price increases replicate the pattern of past cycles, Bitcoin could see its value climb to remarkable levels. Indeed, he projected targets of $150,000, $275,000, and even $400,000.
“If the pace of the bull trend after Apr 2024 is at similar pace to the bull trend since the Nov 2022 low, then the high in Oct 2025 could be around $150,000. However, the post-halving advances during previous bull cycles have been much steeper than the pre-halving advances,” Brandt said.
Read more: Bitcoin Price Prediction 2024 / 2025 / 2030
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Author: Bary Rahma
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