Veteran Trader Peter Brandt recently published a blog post highlighting how Bitcoin’s (BTC) halvings have been at the halfway points of past bull market cycles. Brandt states, ‘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.

The veteran trader also shared a chart to visualize his argument.

Source: Peter Brandt

Also Read: Senator Says Bitcoin Will be Vital to US Economy Post-Election

Furthermore, using the aforementioned analysis, Brandt predicts Bitcoin (BTC) to go as high as $130,000 to $150,000 by Q3 2025, about a little over a year from now. However, the trader notes, ‘No method of analysis is fool-proof.‘ Hence, his prediction could be wrong. Nonetheless, ‘it should be noted that the highs of past bull markets line up quite well against an inverted parabolic curve.

When will Bitcoin (BTC) reclaim its all-time high?

BTC hit an all-time high of $73,737 on Mar 14, 2024. The surge was fuelled by the US SEC’s (Securities and Exchange Commission) decision to approve 11 spot BTC ETFs (Exchange Traded Funds). BTC’s price has fallen by about 6.6% since its March peak. Despite the correction, many analysts anticipate BTC to reclaim its all-time high soon.

Also Read: Goldman Sachs Calls Bitcoin ETF Approval a ‘Psychological Turning Point’

According to CoinCodex, Bitcoin (BTC) could surge to $77,230 on June 6, 2024. Moreover, the platform predicts BTC to continue rallying throughout the month. CoinCodex expects BTC to hit $89,066 by the end of this month. Reaching $89,066 from current levels would translate to a growth of about 29%.

Source: CoinCodex

Changelly also predicts Bitcoin (BTC) to rally over the next few weeks. The platform anticipates BTC to hit a new all-time high of $76,091 on June 5, 2024. Furthermore, the platform predicts BTC to hit a high of $87,730 on June 28, 2024.


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