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Senior Trader: Predicts that Bitcoin will rise to $135,000 by the middle of next year, but it needs to avoid falling below $48,000 beforehand

Senior Trader: Predicts that Bitcoin will rise to $135,000 by the middle of next year, but it needs to avoid falling below $48,000 beforehand

Bitget2024/10/11 03:32

Odaily Planet Daily reports that veteran trader Peter Brandt suggests Bitcoin needs to avoid falling below $48,000 in order to maintain the chance of reaching a six-figure historical high next year. Recently, Brandt released his price expectations for Bitcoin up to 2025 on platform X, stating that the market consolidation since March is a "brief pause", and most of the bull market is still ahead. This prediction is based on past halving cycles.

Historical data shows that the second half of Bitcoin's four-year halving cycle always results in the largest price increase. Based on this macro stance, Brandt predicts that Bitcoin will rise to $135,000 between August and September 2025 but must hold onto its support at $48,000 to sustain this forecast. (Cryptonews)

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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