Veteran Analyst Peter Brandt Predicts Bitcoin Price One Year From Now

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Bitcoinsistemi2024/10/09 20:27

By:Mete Demiralp

Peter Brandt, one of the experienced names in the financial world, shared a prediction about the Bitcoin price in his statement.

Peter Brandt, a seasoned market analyst with 50 years of experience, shared his latest views on Bitcoin's price trend.

In his latest statement, Brandt drew attention to the macro outlook of Bitcoin (BTC) and expressed his expectations regarding BTC's performance.

According to Brandt, significant gains for Bitcoin typically occur in the second half of halving cycles. He described the period since March 2024 as a “brief pause” in the ongoing uptrend rather than a significant divergence. Brandt’s target for Bitcoin is set at $135,000 by August or September 2025. However, he warned that a close below $48,000 would invalidate current chart analysis.

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Brandt also compared Bitcoin to gold, questioning which asset truly holds the title of the ultimate store of value. He noted that Bitcoin has outperformed gold, with resistance at a 32-to-1 ratio and the current level at 23-to-1. Brandt noted that support is in the high teens, and that if Bitcoin were to reach a new all-time high, it could exceed a target of 100-to-1 against gold.

*This is not investment advice.

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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